Streaming mediamaker Roku is considering an initial public offering (IPO) estimated to raise up to $150 million fresh capital.

The New York Times reported on Friday that Roku is working with Bank of America Merrill Lynch and Citigroup. However, not much detail on the planned public listing could be expected since the Jumpstart Our Business Startups Act has provisions that require companies with less than $1 billion yearly revenue to file information confidentially.

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Established in 2002, Roku reported in September that it sold 10 million streaming video players in the U.S. The players are small boxes attached to television sets that stream videos from providers such as Netflix and Hulu.

By cutting the cord, Roku and other streaming video manufacturers grew their business while subscribers cancelled their cable TV service.

According to Roku CEO and founder Anthony Wood, an ex-Netflix executive and owner of several media firms, Roku generated revenues of $190 million in 2013 and is moving closer to profitability.

Total sales of streaming media players in the U.S. is expected to reach 24 million for 2014, and this is expected to further increase to 44 million in 2017, The Wall Street Journal cited data from research firm IHS Inc.

The study said that Apple and Roku have a combined market share of 94 percent, but Google and other tech firms are coming out with similar products that could bite into the share of the two market leaders.

Prior to the planned IPO, Roku has raised about $153 million financing from private investors such as Netflix, British Sky Broadcasting, Hearst and News Corporation. It would join a growing number of consumer technology makers that listed publicly such as GoPro, which manufactures sports-oriented handheld cameras.

Besides its popular streaming boxes, Roku had also ventured into production of TV sets and is partnering with cable companies to provide software as well as sell advertising space on its platform, said Roku's recent statements.

Tagsroku, initial public offering