GoPro Files $100 Million IPO
GoPRo filed paperwork with the SEC for a $100 million IPO with the ticker GPRO on the Nasdaq. The company had first announced its plans to go public back in February. GoPro’s revenue soared to $985.7 million in 2013, from $526 million in 2012 and $234.2 million the year before. The small and compact, yet versatile, cameras have sold like hotcakes, and can (and have) been used in thousands of different ways.
“Revenue and units shipped for the three months ended March 31, 2013 were impacted by production delays of our HERO3 Black edition capture device in the fourth quarter of 2012,” the company said in the filing. “These production delays correspondingly delayed shipments until the first quarter of 2013, which resulted in revenues in the first quarter of 2013 that did not reflect the traditional seasonality in our business.”
GoPro is profitable, unlike some other tech companies that have recently gone public. GoPro also has physical products, so this may be a huge purchase for anyone investing in stock. The company can not only survive but flourish out on the market with their durable cameras. While GoPro is a known brand, they understand that the market for compact cameras has a lot of competition from other manufacturers. “We are investing to scale GoPro as a media entity and develop new revenue opportunities by increasing production of GoPro originally produced content while simultaneously increasing the aggregation and redistribution of our customers’ “best of” UGC,” the company wrote in the filing. “Additionally, we are investing to develop, distribute and promote GoPro programming on additional partner platforms such as Virgin America and Xbox Live.”
I’m personally excited to see what new products GoPro might bring to the market once they go public. I have a strong positive feeling about the company, and would highly recommend investing in them early on. Tell us in the comments what you think about GoPro finally going public and if you’re going to invest.