Today, GoPro Inc filed with U.S. regulators to raise $100 million in an upcoming initial public offering of common stock. GoPro makes wearable, durable cameras, and the accessories (like forehead straps) that keep those cameras from breaking when you're out mountain biking, surfing, or training your pet eagle.
In the first quarter of this year, GoPro's net income was $11 million, on revenues of $235.7 million. Last year, they netted $60.6 million out of $985.7 in revenue, doubling their profits from 2012.
The filing also specified a dual class structure for common stock. Voting control will be given to GoPro founder Nick Woodman and other executives. Keeping voting power in the hands of its founders and builders was also a strategy used by Google and Facebook, so GoPro is following in some seriously successful footsteps.
The IPO will be underwritten by J.P. Morgan, Citigroup and Barclays. While GoPro aims to raise $100 million, their final IPO size could be different. GoPro will trade under the symbol GPRO. It will trade on the NASDAQ exchange.
This article is from the archive of our partner The Wire.
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