It seems that they'll do 6:1 stock merge. Below are the cap tables before/after:
The company has set the maximum share price to be $14.00, seeking to raise a maximum of about $252M. Part of the raise would be buying old shares provided by the current investors.
If we take total Class A and Class B shares to be outstanding after the offering, the market cap they're seeking at IPO would be:
It's not glamorous but still a unicorn market cap. It's a bit lower than I had expected, which was north of $2B. But maybe the founders, shareholders and investment banks (led by Morgan Stanley) don't want to repeat the disappointing (and law-suit-fraught) IPOs of Snap Inc. and Blue Apron this year and deliberately priced it lower. We might eventually see Roku's market cap rise above $2B.
And the largest VC shareholder Menlo Ventures would be looking at a combination of cash/paper value for their shares valued at:
Not sure how much money they put in as I don't have the time to work out the maths based on S-1 form's spotty data. But I don't think it'd be more than $50M and it could very well be only $20M as they got in very early and led the early rounds. In any case this investment is probably anywhere from 20X to 8X to them.
Not too shabby.