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.
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.