Roku CEO mum on IPO plans

Roku's Chief Executive Anthony Wood remained quiet about the company's IPO plans.

"We can't talk about it," he told CNBC's "Squawk Alley" on Tuesday. "It's company policy."

Roku provides an online television streaming service that allows users to display content from Netflix, Hulu and YouTube, among others, into the television.

Wood added there are two major ways TV streaming is growing. "One way is through streaming players, and we're doing extremely well in that market," he said. "The other is through the so-called smart TVs."

He said smart TVs present a big opportunity for the company because of Roku's simple platform and the amount of content it provides. "Until now, most smart TVs that are on the market are hard to use with complicated menus and limited content choices," , Wood said.

The company is also focusing on 4K televisions because of the way 4K content will be delivered, Wood said. "Unlike in the past, when next-generation content was delivered in disks, content is going to be delivered by streaming," he said.

Wood said the launching of Sling TV, an online platform that allows users to stream content from ESPN, TNT and other channels, and HBO's HBO GO service are good for the company because they accelerate the availability of streaming content. "We're America's most powerful streaming player," he said. "We stream more hours every week than Chromecast, Apple TV and Fire TV combined, so we're competing very well."