Best Selling 4K Camera Maker GoPro Possibly going Public with $300 million IPO

by on August 13, 2014

by Stephan Jukic – August 13th, 2014

It’s a pretty rare thing for a camera maker to go public but apparently GoPro, the manufacturer of the best-selling Hero series of 4K action filming cameras is going to be doing just that according to sources close to the company.

The IPO is rumored to be somewhere in the $300 million to $500 million range and could happen as sometime next year.

GoPro has become quite famous in the camera industry for its bestselling line of wearable and attachable 4K video cameras known as the Hero line. Ranging from the original Hero 1 to the Hero 4, which is going to be released in October of this year, GoPro’s cameras have received a lot of praise and promotion from famous outdoor sports personalities such as surfers Kelly Slater and Laird Hamilton.

The rugged cameras made by GoPro not only offer rugged designs that can withstand all sorts of environmental conditions but are also easy to attach to helmets, surf boards, ski poles, bicycles and motorbikes. Furthermore, the last 2 editions of the Hero and the upcoming Hero 4 are all capable of shooting 4K video at an Ultra HD resolution of 3,840 X 2,160 pixels.

According to Reuters and other sources, the San Mateo, California based company has hired JPMorgan Chase & Co, Citigroup Inc and Barclays Plc to lead its planned initial public offering in 2015.

The initial amount of money that GoPro plans on raising is going to be on the higher end of the spectrum for tech IPOs in 2014 and will beat out the recent IPOs of both Palo Alto Networks Inc and ServiceNow Inc, who raised $260 million and $209 million respectively in their own IPOs.

The exact timing of GoPro’s IPO has yet to be fully confirmed and although it could come as early as the fourth quarter of 2014, the banks involved have declined to comment on details.

GoPro has really become popular inside the outdoor sports world with its wearable and attachable cameras thanks to their high quality and extreme resistance to shocks and harsh, wet environments. The company’s cameras, which sell for between $200 and $400 apiece, are not only inexpensive and easy to set up, they also offer the extreme clarity of 4K resolution when filming some of the most rapid action sorts of video content there is to film.

These qualities have made them extremely popular with the above mentioned athletes and a wide range of players in other extreme sports such as motorcross racing, skiing and extreme mountain biking.

Furthermore, GoPro’s Hero cameras have received feature status in widely viewed shows such as Mythbusters, Deadliest Catch and Sarah Palin’s Alaska, all of which involve using the cameras under some very rugged conditions.

In 2011 alone, GoPro generated some $250 million in revenue from sales of its durable cameras, competing with other makers such as Seattle-based Contour and Drift, from the U.K.

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