GoPro valued at $3-billion after completing IPO

GoPro completed its initial public offering this morning, flogging shares at $24 a piece, a top-end mark-up from the expected $21-24 share pricing.

An initial public offering, or IPO, is when a company sells stock shares to the general public for the first time, transforming it from a private firm to publicly traded. The extreme action camera firm offered up half of the 17.8-million shares available to the public for purchase, with stockholders making up the rest, raising just north of $427-million in capital.

Valuation estimates for the company sit at around $3-billion, mainly thanks to the lucrative business opportunities that the in-demand camera presents. GoPro’s 2013 total revenues were just short of $1-billion last year, a huge increase from the $526-million posted in 2012.

The Californian company sells a single camera design, the Hero3+, shipping in various colours priced between £199.99 and £359.99. The GoPro camera has been endorsed by an array of extreme sports athletes, including Olympic gold medal winner snowboarder Shaun White and world champ surfer Kelly Slater.

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