GoPro Files for $100M IPO, To List on Nasdaq Under Ticker GPRO

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GoPro Files for $100M IPO, To List on Nasdaq Under Ticker GPRO

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GoPro Files for $100M IPO, To List on Nasdaq Under Ticker GPRO

by TheStreet.com Videos 2:18 mins

GoPro Files for $100M IPO, To List on Nasdaq Under Ticker GPRO

by TheStreet.com Videos 2:18 mins

Video camera maker GoPro filed papers on Monday with the Securities and Exchange Commission for an initial public offering. The S1 filing put $100 million dollars as the placeholder in terms of how much it is looking to raise. GoPro did say it intends to list on the Nasdaq under the ticker symbol GPRO. The company's growth numbers are impressive. In just the first three months of 2014, GoPro generated revenue of $235.7-million dollars, that's roughly the same amount it made in all of 2011. Net income for the first three months of this year was $11 million dollars. In 2011, GoPro made just $24.6 million dollars for the entire year. In the filing, GoPro says there are some risks associated with the IPO, namely that they compete in a highly competitive space with just one product. JPMorgan will take the lead among the nine underwriters. Ruben Ramirez reports from Wall Street.

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