GoPro heading for NASDAQ
Unless you’ve been living under a rock, or really don’t like your sports, likelihood is that you know what a GoPro camera is and why it is widely regarded as the sports professionals’ choice. The GoPro camera is a small and durable camera that captures HD quality. It’s small size and minimal weight allows it to be mounted on helmets, side of cars, handle bars even on your shoulder. If you’ve seen any recent videos of skydivers, extreme sports or any of RedBulls viral videos, then you’ve witnessed the amazing events that can be captured on a GoPro.
The popularity of the camera company has grown tremendously and is sold in more than 100 countries. However its sudden spike in popularity meant that to accommodate the increasing levels of demand, they had to take out a bank loan of up to $110million (as of 31st March 2014). With a net income of $60.6million in 2013, GoPro increased their yearly earnings by almost double.
The GoPro has developed with the technological advancements of High-Definition capabilities. In 2009 it adapted to HD with its cameras, and has since sold a staggering 8.5 million units. With such staggering figures, it’s no wonder that many companies were interested in getting a piece of the action. FoxConn, a Taiwanese manufacturer purchased a minority stake in 2012 for an estimated $200million. This minority stake values GoPro at around $2.25billion, a figure which is greatly expected to rise.
Nicholas Woodman and his family are the majority stake holders, with a 49% stake in the company. It has been publically stated that Mr Woodman has been instrumental in the success of the company, and when floated on the NASDAQ his place in the company must remain. Many fear that if they were to lose Mr Woodman, the company as a whole would suffer greatly.
GoPro is to launch itself on the NASDAQ under the symbol ‘GPRO’.
As mentioned, extreme sports is what has given GoPro its name. A mass number of viral videos have been captured by a GoPro camera. Here is an example of how amazing the outcome can be.
Many cyclists have purchased GoPro cameras that have not only been used for capturing their fun adventures, but also for helping out with justice. Many commuters have captured illegal and reckless driving which has then been used as critical evidence. Many have praised GoPro’s for an array of reasons, but with the knowledge of the camera some are saying the roads are becoming safer around cyclists.
For more information about GoPro and their products, visit: www.gopro.com