GoPro Goes Public And It May Raise Up To $427 Million

TheStreetJune 11, 2014

GoPro, the maker of wearable cameras best known for capturing moments in extreme sports, is going public and it may raise well over $400 million. The San Mateo, CA based firm will be listed on Nasdaq under the ticker GPRO. The IPO is expected to price between $21 and $24 per share. If it were to price at the top of the range, GoPro would have a valuation of around $3 billion. According to a public filing, GoPro will have two classes of common shares: class A and class B. Class A shares are entitled to one vote each while class B shares are entitled to 10 votes each. Only class A shares will be traded on Nasdaq for the time being and nearly 18 million shares will be available as part of the IPO. The company's most popular fixed-lens camcorder lines, the Hero camcorders, account for 45% of the market in the US. It generated more than $235 million in revenue in the first quarter of 2014 and its cameras are available through 25,000 stores in more than 100 countries.