GoPro the maker of the popular rugged range of action cameras that have been used to capture some awesome footage over the years, has this week publicly announced its intention to file for $100 million IPO.
GoPro’s IPO plans were made earlier this year but were filed confidentially, and only now has the company opened its books up to scrutiny. Looking to raise $100 million in an initial public offering.
CNN Money explains that “GoPro sales reached $986 million last year, more than four times its 2012 total, while profits hit $60.6 million, nearly doubling”-“That pace has moderated a bit in 2014. GoPro recorded $236 million in sales for the first quarter, down from $255 million a year prior, while profits dropped to $11 million from $23 million in 2013.”
GoPro recently launched its new smartphone application that now automatically searches for any nearby GoPro cameras and makes a connection. Details of their new GoPro 4 action camera will also leaked last month revealing that the latest camera in the range could be equipped with 4K Ultra HD filming resolutions. However this has yet to be confirmed by GoPro themselves.
Source: CNN Money