GoPro, a name synonymous with extreme sports videos, is preparing to go public.
The camera company announced the news in a brief press release today, explaining that its submission is currently being reviewed by the SEC.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":892133,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,mobile,","session":"A"}']GoPro submitted confidentially, and thus details are scarce. That said, the writing was on the wall. Last year GoPro founder Nick Woodman publicly said the company was “getting itself prepared for an IPO.” Just three days ago it brought on a CFO, former Qualcomm Atheros exec Jack Lazar, and the company has pushed hard lately for mainstream exposure: it even shelled out for a SuperBowl ad (below) last week.
So far, GoPro appears to not be vulnerable to the ever-growing smartphone industry, although former competitors like Flip Video haven’t been as lucky. Having reportedly doubled its sales every year since launching in 2004, GoPro essentially owns the activity camera market.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
GoPro recently raised $200 million from Foxconn, which now holds a 9 percent stake in the company, and $88 million from Riverwood Capital, USVP, Steamboat Ventures, Sageview Capital and Walden International.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More