GoPro wants to cash in 100 million from Nasdaq IPO

GoPro, the U.S. marketer of action cams for sports purposes, has submitted the paperwork for an initial public offering on the Nasdaq stock exchange. Neither a date, nor a price per share has been named yet, but the company expects to make some $100 million from the IPO. The company wants to use the money to strengthen its financial position, to pay back loans and possibly to invest in complementary technologies.

Impressive growth rate

The paperwork also reveals figures on GoPro’s evolution. In 2013, total sales were up by 87.6 percent to $985.7 million compared with the previous year. Net profit soared by 87.4 percent and reached $60.6 million. Last year, the company managed to sell more than 3.8 million cameras globally. Unlike other brands in the sector, GoPro does not rely on large consumer electronics retailers, but rather on specialty stores in the sporting goods sector. This distribution strategy has led to an impressive number of more than 25,000 points of sale in more than 100 countries worldwide.

 

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