Roku Had $487 Million in Silicon Valley Bank

Ross A. Lincoln, reporting for The Wrap:

In financial documents filed Friday, Roku disclosed that it had approximately $487 million held by Silicon Valley Bank, the Northern California financial powerhouse that failed this week, sending shockwaves throughout the region’s economy.

That number, Roku says, represents approximately 26% of its cash and cash equivalents, and the company will be able meet its pending financial obligations for at least “the next 12 months and beyond.”

From Roku’s filing, linked above:

The Company’s deposits with SVB are largely uninsured. At this time, the Company does not know to what extent the Company will be able to recover its cash on deposit at SVB.

★ Friday, 10 March 2023