Yesterday GoPro announced in a press release that the company registered for a confidential submission with the Securities and Exchange Commission, to sell common stock. In order for this type of submission, a company must have sales less than $1 billion, and GoPro is geared up and ready for initial public offering (IPO).
GoPro, also known as Woodman Labs, launched the company in 2003, and they never fell to the normal stress that most Silicon Valley start-up companies sometimes feel starting with venture capitalists. This freedom gave the founder and executives a place to create their own picture for the company.
As one of the most portable camera devices built to wear, mount and take anywhere, even underwater -- it was just a matter of time before this outstanding gear would be ready for public stock options.
Just last year Founder and CEO, Nick Woodman said he hopes to make this the most portable camera as the “go to” for everyone who wants to record epic moments where most video devices are unable to go.
In 2012, it was reported that a Chinese company, Hon Hai Precision Industry, had taken a 9% stake in GoPro, and it was valued then at $2.25 billion.
In a 2013 interview, Woodman shared that the company had sold 2.3 million devices with more than $500 million sales in 2012, and was set to record double the sales in 2013.
GoPro cameras are known to capture the most extreme sports and other events by capturing wild and daring footage, where other cameras are prevented from recording. These hand-held, head-mounting devices allow viewers front and center seats to some of the coolest never before recorded scenes.