Quick Note: GoPro IPO Debuts for $24/Share
June 26, 2014 12:44 PM
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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
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.
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RE: Not to be negative but...
6/27/2014 2:14:18 PM
Everybody wants to record themselves and put it on the internet. If my kid had one he would put up videos of himself playing minecraft. Sure the ppl you mentioned make the most interesting videos, but that doesn't stop everybody from wanting to make their own lame videos.
RE: Not to be negative but...
6/27/2014 10:54:17 PM
Any smartphone can perform this task. Go-pro is for the adventurous folk who require an inexpensive go anywhere video camera. This is a niche market with competition in this space.
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