GoPro prepares to go public

February 21, 2014 | Surfing
GoPro: Alana Blanchard takes a selfie

GoPro, the most famous surf camera in the world, has filled Initial Public Offering (IPO) documents with the Securities and Exchange Commission to sell its common stock.

Nick Woodman has new challenges ahead. GoPro is going public after 10 years in the global market as a private business. The high-definition camera company had sales of 521 million dollars in 2012.

The 38-year-old surfer/entrepreneur from Woodside, California, had already sold 8.88% of GoPro (200 million dollars) to Foxconn, a Taiwanese multinational electronics contract manufacturing company, in December 2012.

Despite defending that the firm from San Mateo did not need to go public, Woodman and his executives will certainly benefit from fresh cash for new investments.

The first GoPro camera was sold in 2004. The initial 35mm film version evolved to 10-second video clips, HD and wide angle lens. Woodman's invention is currently used in action sports like surfing, windsurfing, kiteboarding, bodyboarding, BMX, snowboarding, kayaking, skateboarding, base jumping, etc.