GoPro Looking to Raise $100 Million with IPO

05/22/2014 @ 2:21 pm, by Jensen Beeler10 COMMENTS

GoPro Looking to Raise $100 Million with IPO gopro hero3 635x423

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

Comment:

  1. Andrey says:

    If anyone has had the misfortune to be the owner of one of these units they will not be surprised to hear their net income and sales are down.
    These units are not well built, the software is not stable, the accessories are not designed very well and image quality can be hit or miss. I have had two units, both with problems that cover the above issues. Credit to GoPro for fixing things promptly however design deficiencies remain.
    If they employed some good Engineers (the real version, not the software version) the devise would be more versatile, better constructed and easier to use. Software ??? well that’s another question entirely.
    Check out the reviews at places like Amazon to see what these are really like.
    I guess we live in the age of products being rushed to market so fast they are still only partially sorted.

  2. Andrey says:

    Sorry, device, not devise..

  3. TheSeaward says:

    Does anyone have any recommendations for an action cam? The Garmin Virb looks promising, but they all seem to get mixed reviews. The only reason I don’t own one is that I can’t make up my mind and I don’t want to spend $400 on a subpar camera with limited use.

  4. Con/ed says:

    Product is scam – IPO is a scam and no one bothers to react to such a company who’s only product is demolishing and cheating the market. Why not to make IPO to those Chinese who created and make those catastrophic things.

    I believe soon we will see 4K version from it which is not able to record even 1080 with 60fps but every single brought magazine “review” claims they can … and we all say it’s free market not stealing. Today it’s OK to sell what ever cheat you have in mind as YoU are stupid if you brought it not the seller is thief who promises something but it will never happen and the data is just a lie they give out. All those scammers activity get’s bigger and bigger in the motorcycle industry and there is no regulations on any market to stop it.
    From the past 3 years I can make the longer con list as from past 30 easy.

    Every person who has at least some education must to know that IPO is a clearest signal that there is no real activity behind the thing or product any more, it’s just a cashing out on the others greedy and incompetent ones expense. It’s just an other Chinese / US stealing and intermediary activity with hype and package design from the US side and we call it a technology business with almost zero R&D from the real engineers and designers side. Today GoPro open positions list is endless maybe someday they start make some real products but IPO on the way gives a clear signal it will not happen.

  5. donno says:

    nowadays lots of small gopro-like cameras are coming out direct from china with prices less than half of what gopro asks.

    so an IPO in times like this is really like “Hey we made our killing, the hoarde is coming, lets make one more kill and get the hell outta here…”

  6. Bruce Monighan says:

    Junk. I hate mine. Overhyped, over marketed and the product sucks. I had a 9,00 mile 21 day round trip ride to Prudhoe Bay Alaska and have almost nothing to show for it in the way of pictures or video. Short battery life, can’t tell if it is on or off, you have no idea on what you have recorded. It reminds me of the old film days. Go on vacation, take a bunch of photos and wait weeks to find out what you got. Nothing worse that a special trip and no photos.

    Now you can get optional batteries, optional “screen” to see what you are recording but they are optional and you cant use them both together. To make a product functional they ask you to buy more stuff. Like selling you a car then offering to sell you the electronic system to make it functional.

    I bought mine because “everybody had one” and all the cool videos they show on commercials. Turns out I should have talked to owners and not believed the made up video commercials.

    Anybody who buys one of these is wasting their money and anybody that would consider buying into the IPO is just flushing their money down the toilet.

    Mine sits in a bag in the garage, I refuse to even try and sell it to someone else. Junk, garbage and a rip off

  7. David says:

    WTH….I didn’t know people had so many problems with them.

    I love mine. Hero3 Black.

    Never have a problem with it. Use it in the rain and mud on my dirtbike. Works perfect.

    Has a lot of setup options also.

    I enjoy all the vids I get.

  8. Same here David,

    Maybe i’ve just had good luck, all the GoPros i’ve used have worked out great. I agree that they’re a bit hyped up, but maybe I’m just use to compromising with them.

    You got to make sure to upgrade the firmware occasionally, especially on the Black. That fixed the freezing problem i was having.

    Also you can link to your phone and use that as a view screen, which is handy.

    I’ve done reviews on them if anyone is interested, and recently did a review on a camera called the PapaGo which would be a Chinese competitor.

    Black Edition http://youtu.be/J0PlwQNZabc

    PapaGo! vs. GoPro http://youtu.be/vgTHG46CCak

    Hero 3 Silver vs. Hero 2 http://youtu.be/ozaqlnhxhd4

    This is just fun dirt bike action http://youtu.be/RxtCv_Z7MSA

    Maybe the IPO is a effort to make a money grab, but if GoPro could team up with a company like Shoei and have integrated helmet cams that would be pretty awesome.

  9. meatspin says:

    I marvel at GoPros videos that they used to market the camera. They have some really slick advertising.

    I dont have one. It would be another thing I would lose.

  10. Westward says:

    Contour had the best form factor thus far, too bad their management was misguided as was their customer service. GoPro needs to come up with a more aerodynamic design before they win me over. As for quality and convenience. I use an old iPhone. Man imagine if Apple made an action camera, it could be insanely small with 10x the technology as anything else on the market.