GoPro Aims for a $100 Million IPO
In February, GoPro announced that it had confidentially filed documents with the Securities and Exchange Commission under the JOBS Act for an initial public offering. Now we know exactly how much the camera-maker and action-sports brand is seeking to raise.
Per its S-1 filing, which was made public by GoPro after markets closed yesterday, the company aims to raise $100 million for its IPO.
GoPro, which makes wearable cameras that are incredibly popular among action-sports enthusiasts and online video creators, has been rumored to be going public for a couple of years now. (As of 2013, GoPro was valued at $2.25 billion, when Chinese electronics manufacturer Foxconn pumped $200 million into the company.)
Per the S-1 filing, GoPro generated $985 million in review in 2013, an 87% increase from the previous year. Growth has been slower so far in 2014, with the company earning $255 million in revenue during the first three months, which is down 7% from the same time period in 2013.
GoPro will list on the Nasdaq under the ‘GPRO’ symbol. The final IPO number is subject to change.Tags: GoPro, IPO