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GoPro Looking to Raise $100 Million with IPO

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Small affordable video cameras are changing the way motorcycle enthusiasts record their two-wheeling adventures, and one name has dominated the market: GoPro. The San Francisco Bay Area company is looking now to continue that growth; and to help achieve that goal, GoPro is searching for $100 million in capital.

According to documents filed on Monday with the Securities and Exchange Commission (SEC), GoPro will look for that money with an initial public offering (IPO).

Planning to be listed at GPRO on the NASDAQ exchange, GoPro disclosed $985 million in revenue last year, up 87% from 2012; while net income topped $61 million, nearly double the $32 million GoPro earned in 2012.

The company hasn’t seen the same growth in 2014 so far though, with revenue and unit sales down 7%, while net income has been down 52%.

With the actually company called Woodman Labs until February of this year, GoPro Founder and CEO Nicholas Woodman holds 48.8% of the company in partnership with his wife Jill Woodman. Nicholas Woodman’s father, Dean Woodman, owns an additional 6.4% in stake.

With the IPO market currently considered unstable by investment standards, it is unsurprising that GoPro is looking only for a modest amount of capital from public investors.

Still, with the company’s ubiquitous product in sports and adventure — GoPro sold 3.85 million units last year alone — investors might see a bit of GPRO stock as a wise investment. As always, time will tell.

Source: Forbes

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