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GoPro was valued at up to $2.96 billion USD

GoPro Inc.'s initial public offering was recently priced at $24 per share, according to a report from Reuters
Wearable camera company GoPro, which makes the Hero brand of portable cameras worn by many athletes and adventure seekers, was valued at up to $2.96 billion USD. The company's IPO generated about $427.2 million USD, and distributed 17.8 million Class A shares.

GoPro said it will use the proceeds from the offering for debt repayment and investment purposes. As of March 31, GoPro had about $110.7 million USD in debt. The company’s 2013 sales topped $985 million (a nearly 90 percent increase from the year before), and net income nearly doubled from $32 million in 2012 to $61 million for 2013.
GoPro is the first consumer electronic company to go public since headphones maker Skullcandy Inc. in 2011, and its shares are currently trading at around $31.

Source: Reuters

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RE: Not to be negative but...
By BRB29 on 6/26/2014 2:07:15 PM , Rating: 0
$61M on $935M of revenue is terrible.

Cash in my wallet went up 1000% from $10 to $110. Doesn't mean I'm rich.

BTW, at $24, their market cap is worth $3B. It's at $31 now so it's closer to $4B.

The only bright side is that it's not as overvalued as Twitter which was valued at $26B when it only took in ~$700M in 2013. Twitter net income was negative at almost the same amount.

RE: Not to be negative but...
By karimtemple on 6/26/2014 2:17:29 PM , Rating: 2
$61M on $935M of revenue is terrible.
Compared to the very best? Sure; As if that was a fair comparison. Compared to most companies, it's decent performance in general.

RE: Not to be negative but...
By Samus on 6/26/2014 2:57:27 PM , Rating: 2
$61M on $935M of revenue is terrible.

A 6.2% YoY growth is far from terrible and mostly in line with the tech sector average. Rule of thumb is if your growth exceeds inflation (~2% in the USA) you're sustainable.

Not everybody has Intel and Apple growth.

RE: Not to be negative but...
By kleinma on 6/26/2014 3:23:42 PM , Rating: 2
That and on day 1 of IPO the stock is up 32% with about 30 minutes until the market closes.

"We don't know how to make a $500 computer that's not a piece of junk." -- Apple CEO Steve Jobs

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