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Thursday, 07 August 2014 19:19

GoPro Goes Public

Written by  P3 Staff
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Wall Street just dove into DIY filmmaking by investing in a camera you can take anywhere, even to its trading floor.  GoPro’s CEO and Founder Nick Woodman recently brought the company to the trading floor, where it went public and pushed beyond predicted expectations.

Thirty-eight year Woodman, who created the bare bones of GoPro in 2002, now staffs over eight-hundred employees at a company valued at over three billion dollars. 

Woodman told CNBC that he plans to still own one-third of the company and wants this opportunity to help reward employees for their continued efforts into making GoPro as huge as it is. "We have almost 800 employees now, many of whom have been with the company for years and years and years," Woodman said. "They've dedicated a lot of their life and made many sacrifices to make GoPro what it is today. They deserve liquidity. They deserve an opportunity to realize some of the benefit of the hard work they've done."

When the bell rang on the floor, the shares made their way from $24 to $30, surpassing the originally $3 billion valuation.  Though GoPro profited $60.6 million off of their $1 billion in sales last year, this year’s first quarter fell short, which is causing some to question whether the shares were valued too highly.  However, with their continuous launch of new products that allow the camera to go even further than before, their clean and simple approach, and the need for this kind of camera, it seems safe to say that GoPro isn’t going anywhere for now. 

 

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