PetaPixel

GoPro Successfully Goes Public, Valued at Over $3 Billion

Yesterday, the moment for which GoPro has been preparing for the last several months arrived: CEO and Founder Nick Woodman rang the bell on the trading floor, and the company went public.

Surpassing expectations, the action camera maker and media giant managed to exceed the rumored $3 billion valuation from last month when the appropriately titled GPRO shares, which started out near top of their range when the bell rang, quickly climbed from $24 to $30.

GoProIPO_1

Despite the successful IPO, however, there are still some concerns regarding GoPro’s continued growth. While they managed to bring in $60.6 million in profit off of almost $1 billion in revenue last year, the first quarter of this year fell short of expectations.

It’s still early in the year though and it’s probably safe to say GoPro has some goodies up their sleeves. With more capital to work with and more drive to succeed than ever before, we’ll be keeping a close eye on the company as they grow and evolve over the coming year.

(via GoPro)


 
  • MikeT

    Is that a 50x multiple? Holy moly.

  • Richard

    Was just thinking the same thing. Normally a company is worth about 5xProfit

  • Mark Davidson

    While it is a bit high it seems the market likes a product it can understand and the fact that there IS a profit.

  • SiriusPhotog

    “it’s probably safe to say GoPro has some goodies up their sleeves” Yeah, the Hero3++… it’ll be more expensive without addressing any of the problems of the original 3 just like the 3+. Just a guess.

  • Sheila Cain

    upto I looked at
    the bank draft that said $6428 , I accept that my brother woz really bringing
    in money part-time on their apple laptop. . there sisters neighbour has been
    doing this for only 6 months and at present paid for the loans on their home
    and bourt a great new Aston Martin DB5 . read wℴℛks77.ℂℴ­­­ℳ

  • Ron Hendriks

    That is overrated!

  • BCS

    look how many people have shorted it already. gonna drop like the chic in the video above.