GoPro planning to launch IPO
GoProInc, a leading maker of cameras used by surfers, skiers and sky divers, has field for a U.S. initial public offering.
The company, which is based in San Mateo, California, has not offered more details relating to the IPO. GoPro has appointed JPMorgan Chase & Co to manage the offering, according to people closer to the matter. The company had close to $1 billion in sales during the previous year and is planning to launch its IPO in May or June.
The Jumpstart Our Business Startups, or Jobs, Act permits companies with less than $1 billion in annual revenue to file for IPOs confidentially in the US. The company has kept its details confidential, like Twitter did before its offering in the market.
GoProIncwas established by Nicholas Woodman in 2002. Woodman is now working as the chief executive officer and has led the company from e camera style that sold for $19.99 in surf shops around California to a major company.GoProofers four camera styles worldwide that range in price from $200 to $400 and also offers range of mounts and accessories to its custoemrs.