GoPro Files For IPO, Reveals Incredible Financial Growth

Action cam maker GoPro has filed for its IPO.

Although this has been rumored for a while, the company’s financial performance recently hit an all-time high making this the perfect time for the company to go public.

GoPro has seen tremendous growth over the past year. The company almost doubled its revenue year-over-year, reporting $986 million in revenue during 2013 (vs. $526 million in 2012). Quarterly income has been rocky, but they’ve managed to post a profit every year for the past three years, taking home $60 million in net income during 2013, up from $32 million in 2012.

The company makes just one product, a miniature HD video camera that is usually updated once a year. It has been singularly focused on producing one particular type of camera better than the competition after past attempts at diversification, such as introducing a 3D camera, have not gone well for the company. Obviously, having a wide choice of products isn’t everything, but whether Wall Street will be happy with a company that sells just one product – We’ll just have to wait and see.

As well as strong financials, GoPro has a product and story that are unique in the marketplace. Founded by surfer Nick Woodman, who had a crazy idea to make the rugged camera he’s always needed for himself, the GoPro was born out of necessity and marketed to the masses perfectly. After partnering with countless action sports athletes their marketing efforts have become the stuff of legend. The company also regularly partners with Red Bull for incredibly outrageous feats which test the limits of human endurance.

 

Stephen Doble

From his London office, Stephen leads our new media industry coverage at Videoter.

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