- GoPro, the maker of wearable cameras beloved of extreme sports enthusiasts, has also found fans in the stock market. The company priced its initial public offering at $24, the top of the indicated range of $21 to $24 amid strong demand.
- GoPro raises $425 million in IPO
- IPO values GoPro at nearly $3bn
The IPO sets the stage for GoPro to kick off its life as a public company on Thursday on the Nasdaq under the ticker symbol "GPRO."
debuting his first camera--the GoPro 35mm Hero--in September 2004 at San Diego's Action Sports Retailer trade show.
Nicholas "Nick" Woodman, founder and chief executive officer of GoPro, wears a camera as he throws out the first pitch in San Diego.
Last year, GoPro sold more than 13.5 million HD cameras in more than 100 countries and in 25,000 retail stores, the company said.
David Menlow, president of IPOfinancial.com, said GoPro is clearly a "hot brand" that is "on fire" thanks to the popularity of its durable product.
A successful viral marketing campaign has amplified GoPro's visibility and cemented its extreme brand credentials.
One video shot on the company's HERO3 camera features incredible images from around the world and has generated 32 million views on YouTube over the past year. In 2012, Felix Baumgartner wore a GoPro camera to give the world a first-person view of his space jump from 24 miles above the earth's surface.
GoPro's HERO cameras represented a 45% share of the U.S. camcorder market by dollars in 2013, up from 11% in December 2011, according to statistics from The NPD Group cited in the company's IPO filing.
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