The sudden collapse of Silicon Valley Bank has put more than a quarter of Roku’s cash at risk. The streaming company had $487 million, representing 26 percent of its cash, in Silicon Valley Bank, the company disclosed in an SEC filing Friday.
The future of those funds is now uncertain as federal regulators have taken over the financial institution amid the second-largest bank collapse in United States history. “The Company’s deposits with SVB are largely uninsured,” Roku wrote in its filing. “At this time, the Company does not know to what extent the Company will be able to recover its cash on deposit at SVB.”