On
February 7, 2014, GoPro submitted a confidential filing for an Initial Public
Offering (IPO) with the Securities and Exchange Commission (SEC).
On
May 19, 2014, the company formally filed their first catalogue and published it
with the prices. The company stated that they hoped to raise at least $100 million
through the sale of shares, using the money and "to acquire or invest in
complementary businesses, technologies or assets."
The
expected price range was $21 to $24 a share; on June 25, 2014, GoPro sold 17.8
million shares to initial investors at $24 per share (totaling $427.2M).
An
important reason for GoPro's decision to go public was the potential to become
a media company to generate additional revenue from the content its cameras
create.
In its first year
GoPro sold $150,000 worth of product. In
2006 the company introduced its first Digital Hero, with 10 second video
capability, and generated $800,000 in revenue. The following year GoPro sales
quadrupled to $3.4 million.
As technology advanced, the performance of
the GoPro cameras increased.
GoPro produces various mounting
accessories for its cameras including a 3-way mount, suction cup, chest
harness, and clamp.
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