Personal sports camera GoPro firm ready to hit stock market
May 21, 2014, 12:06 am TWN
SAN FRANCISCO--The company behind GoPro cameras used to capture sports action from players' perspectives filed on Monday to raise US$100 million in a public stock offering.
Silicon Valley-based GoPro didn't disclose how it planned to price shares, but it did reveal that it is already profitable, making a net income of US$60.6 million on nearly a billion dollars in revenue last year.
GoPro said in a filing with the U.S. Securities and Exchange Commission that profit slowed to US$11 million on US$235.7 million in revenue in the first three quarters of this year.
"GoPro is transforming the way consumers capture, manage, share and enjoy meaningful life experiences," the company said in the SEC filing.
"We do this by enabling people to capture compelling, immersive photo and video content of themselves participating in their favorite activities."
GoPro cameras have become common among people involved in extreme sports and routine athletic outings, and have even been used by emergency or disaster workers.