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GoPro files paperwork for IPO
May 20, 2014, 05:00 AM The Associated Press

GoPro Inc. has filed the paperwork to take its niche video camera business public.

The company, based in San Mateo makes devices popular with extreme athletes. Its small and durable cameras, which sell for several hundred dollars, can be found on the tops of helmets of skiers, handlebars of mountain bikers and the fronts of surfboards.

GoPro indicated in the filing that it hopes to raise up to $100 million, but that amount is likely to change as the banks managing the deal gauge investor interest. The company did not say how many shares it hoped to sell or for what price.

It plans to use the proceeds for general corporate purposes and to repay a loan.

GoPro generated net income of $60.6 million in 2013 on revenue of $985.7 million, according to its filing Monday with the U.S. Securities and Exchange Commission. That’s up from net income of $32.3 million and revenue of $526 million the year before.

 

 

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Daily Journal Quick Poll
 
What do you think of the recent White House decision to change the name of Alaska's Mt. McKinley to Denali?

It's good to go back to what most people in Alaska call it
Never thought about it
We should keep the name McKinley
It's OK, but would be nice to find a different way to honor McKinley
How about keeping both names?

 

 
 
 
 
 
 
 
California to end unlimited isolation for most gang leaders
SACRAMENTO — California on Tuesday agreed to end its unlimited isolation of imprisoned gang leader..
UNESCO chief: IS destruction of Syrian temple 'intolerable'
BEIRUT — Islamic State militants in Syria committed an "intolerable crime against civilization" by..
US stocks fall sharply on bleak Chinese manufacturing report
NEW YORK — Stocks plunged again Tuesday, continuing a rocky ride for Wall Street, after gloomy eco..
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