restaurants in Metro Manila

Action camera-maker GoPro files for $100M IPO

Mark Vincent Villa

This is AI generated summarization, which may have errors. For context, always refer to the full article.

Action camera-maker GoPro files for $100M IPO
The IPO comes after 3 consecutive years of impressive growth in revenue

MANILA, Philippines — GoPro, maker of the popular compact action camera, has filed for a $100-million IPO at the US Securities and Exchange Commission on Monday, May 19 (Tuesday in Manila) three months after it revealed that it has filed the initial paperwork to go public.

The IPO comes after the company enjoyed three years of consecutive growth in revenue. GoPro revenue grew from $234-million in 2011 to $526-million in 2012 to a massive $985.7-million in 2013.

The cloud over the otherwise sunny outlook is the revenue drop in the first quarter of 2014. The company sold less inventory in 1Q 2014 compared to the same time period a year before.  

Also disclosed in the filing are investor risks including dependence on sales for most of the company’s revenue, reliance on third-party suppliers, a possible slowing of growth rate in the future, and the company’s tendency to rely heavily on their CEO, Nicholas Woodman.

The filing also reveals GoPro’s strategy for growth, most notably to scale as a media brand by increasing production of GoPro originally produced content.

GoPro entered the camera market in 2004 with the GoPro HERO 35mm film camera that was Woodman’s answer to his desire to capture photos while surfing. His camera quickly evolved and in 2006 a digital version the Digital HERO3 was released.

Now on its 8th version the HERO3+ retains its rugged, waterproof design and can now shoot up to 4k video. The GoPro has captured the niche POV-cam market and is the go-to device (pun intended) for shooting video of extreme sports thanks to its ability to be mounted onto handlebars, helmets, surfboards and the like. – Rappler.com

Add a comment

Sort by

There are no comments yet. Add your comment to start the conversation.

Summarize this article with AI

How does this make you feel?

Loading
Download the Rappler App!