Roku

Roku—a hardware digital media company known for its streaming devices—held about 26% of its cash at Silicon Valley Bank Financial, according to a securities ...

[second-largest](https://www.forbes.com/sites/conormurray/2023/03/10/what-to-know-about-silicon-valley-banks-collapse-the-biggest-bank-failure-since-2008/?sh=5f3560d03a21) bank failure in U.S. SVB sold assets amid a surge in withdrawals, which created $1.8 billion in losses. Treasuries and mortgage-backed securities, but as the Federal Reserve increased interest rates to combat inflation over the last year, the firm’s investments began to fall. The firm is second only to Washington Mutual, whose [2008 failure](https://www.nytimes.com/2023/03/09/business/silicon-valley-bank-investors-worry.html) came as the bank had an estimated $300 billion in assets. [$13 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1377121/000110465923031135/tm239184d1_8k.htm)), Sangamo Therapeutics ( [$34 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1001233/000162828023007587/sgmo-20230310.htm)), Eiger Biopharmaceuticals ( [$8.3 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1305253/000119312523067764/d471742d8k.htm)) and Oncorus ( [$10 million](https://www.sec.gov/ix?doc=/Archives/edgar/data/1671818/000095017023007351/oncr-20230310.htm)), which said its holdings represented an estimated 23% of the company’s total cash. SVB’s deposits grew from $60 billion in 2020 to nearly $200 billion two years later as the tech industry grew during the pandemic. [minimal](https://www.sec.gov/ix?doc=/Archives/edgar/data/1043604/000104360423000046/jnpr-20230310.htm)” cash balance of less than 1% of the company’s total cash, which the company listed as [$880 million](https://investor.juniper.net/investor-relations/press-releases/press-release-details/2023/Juniper-Networks-Reports-Preliminary-Fourth-Quarter-and-Fiscal-Year-2022-Financial-Results/default.aspx#:~:text=Fourth%20Quarter%202022%20Financial%20Performance,the%20third%20quarter%20of%202022.) at the end of 2022. [7.9%](https://www.sec.gov/ix?doc=/Archives/edgar/data/1819994/000095017023007358/rklb-20230310.htm) ($38 million) of its total cash at SVB. [according](https://www.sec.gov/Archives/edgar/data/1428439/000142843923000010/wk-20230310.htm) to a securities filing, wth its remaining $1.4 billion in cash is distributed across other financial institutions, the company noted. [according](https://www.sec.gov/ix?doc=/Archives/edgar/data/1315098/000110465923031295/tm239193d1_8k.htm) to a filing, though the video game company said SVB’s collapse will “have no impact” on its day-to-day operations. [revealed](https://twitter.com/circle/status/1634391505988206592) in a tweet late Friday it held $3.3 billion with the bank, adding the remainder of its $40 billion in cash was held elsewhere. [according](https://www.sec.gov/Archives/edgar/data/1428439/000142843923000010/wk-20230310.htm) to a securities filing, as other companies have disclosed ties to the firm after it was closed by regulators Friday.

The stock price of Roku Inc (NASDAQ: ROKU) dropped 3.03% after hours in the most recent trading session. This is why.

“At this time, the Company does not know to what extent the Company will be able to recover its cash on deposit at SVB,” said Roku in a statement. SVB is now placed into receivership by the Federal Deposit Insurance Corp. The stock price of Roku Inc (NASDAQ: ROKU) dropped 3.03% after hours in the most recent trading session.

As of March 10, Roku had total cash and cash equivalents of approximately $1.9 billion. It added that roughly $487 million is held at SVB while the remaining ~$ ...

[Saved Items](/members-admin/saved-items) “The Company’s deposits with SVB are largely uninsured. [Free Sign Up](javascript:void(0);) [Warm Camp](/members/contributors/241346336)6 hours ago [Saved Items](/members-admin/saved-items).

Streaming video pioneer Roku says it lost $487 million, or 26% of its cash and cash equivalents, following the sudden March 10 closure of Silicon Valley Bank by ...

As the FDIC sells the assets of SVB, future dividend payments may be made to uninsured depositors. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. In the filing, the FDIC said all insured depositors of SVB would have full access to their insured deposits no later than Monday morning, March 13.

The fallout from the collapse of Silicon Valley Bank is impacting a range of startups and larger firms including, as we know now from SEC filings…

It is a reminder that even established companies can be impacted by unforeseen events and highlights the importance of diversifying banking partners to mitigate risk. However, the company assured investors that “this situation will have no impact on the day to day operations of the Company.” The company’s stock had just been upgraded by Jefferies analyst Andrew Uerkwitz from a hold to a buy, citing the platform’s ability to continue to grow despite near-term concerns over the economy. Similarly, gaming platform Roblox said in a filing that approximately 5% of its $3 billion cash and securities balance was held at SVB as of Feb.

Roku in a regulatory filing also said its deposits with SVB were largely uninsured, sending its shares down 10% in extended trading.

Online gaming firm Roblox also said it had about $150 million in deposits with SVB. SVB was shuttered by banking regulators on Friday in a bid to protect depositors following a dive in the value of its investment holdings and a rush of withdrawal requests starting just two days ago. Roku in a regulatory filing also said its deposits with SVB were largely uninsured, sending its shares down 10% in extended trading.

Circle has $3.3 billion of its $40 billion of USDC reserves at collapsed lender Silicon Valley Bank, the company said in a tweet on Friday.

Online gaming firm Roblox also said it had about $150 million in deposits with SVB. SVB was shuttered by banking regulators on Friday in a bid to protect depositors following a dive in the value of its investment holdings and a rush of withdrawal requests starting just two days ago. Roku in a regulatory filing also said its deposits with SVB were largely uninsured, sending its shares down 10% in extended trading.

Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit ...

BlockFi said in November it had [halted withdrawals ](https://www.cnn.com/2022/11/28/business/blockfi-bankruptcy-ftx-fallout/index.html)after facing “significant exposure” to Sam Bankman-Fried’s FTX exchange, as well as its sister hedge fund Alameda. Roblox also said in a filing that 5% of its $3 billion in cash was held at SVB. That means more than 90% of the company’s deposits were held in SVB. But the FDIC insured limit is $250,000 – many depositors had cash amounts in the millions stored at SVB. “The company’s deposits with SVB are largely uninsured,” Roku said. [statement](https://illumin.com/press/trade-halt-of-the-shares-of-acuityads/), the company said it requested a trade halt and its remaining cash “will be used to support continuing operations.”

The collapse of SVB Financial Group (NASDAQ: SIVB) could have a ripple effect on the technology and biotech industries, the two largest sectors that had ...

Roku reported in the filing that they have $487 million of their $1.9 billion in cash and cash equivalents held at SVB. Mirum Pharmaceuticals MIRM: Company has less than 1% of cash held with SVB “The company’s deposits with SVB are largely uninsured. Kymera Therapeutics KYMR: Company has around $2.2 million in cash held with SVB Praxis Precision Medicines PRAX: Company has less than 20% of cash held with SVB Payoneer Global PAYO: Company has less than $20 million of cash held with SVB Juniper Networks JNPR: Company has less than 1% of cash held with SVB As the FDIC sells the assets of SVB, future dividend payments may be made to uninsured depositors.” Iteos Therapecutics ITOS: Has around 1% of total cash held with SVB Sangamo Therapeutics SGMO: $34.4 million in deposits held with SVB of $307.5 million in total company cash Compugen CGEN: 1.3% of cash held with SVB X4 Pharmaceuticals XFOR: 2.5% of cash held with SVB