We heard that this was going to happen, but now it's official: GoPro has filed for IPO after their 2013 sales shot up 87.4% to $985.7M. Amidst other camera companies like Sony and Nikon who are struggling of late, GoPro is stands tall with outstanding growth and sales.
GoPro is one of those success stories you just can't help but be in awe of. A surfer-turned-entrepreneur with a wild idea meets enormous success.
From TechCrunch:
The company’s revenue expansion has been impressive, with top line in 2011 of $234.23 million leading to 2012 top line of $526.01 million and finally, in 2013, revenue of $985.73 million.
The company is GAAP profitable to boot, reporting $60.57 million in profit in 2013, up from a more modest $32.26 million in 2012. The company’s adjusted EBITDA — a very, very non-GAAP number — for 2013 totaled $133.72 million.
Two things to bear in mind about this:
1) Nick Woodman is still a surfer. He's still a laid back dude who just enjoys life. The idea of him actually passing up outstanding swells because of a board meeting just doesn't sound like the kind of life I think he wants to live. It would not surprise me if he took a less forward-facing role after the IPO to not encumber this lifestyle.
2) GoPro makes one product and a few accessories, but they haven't had a lot of success deviating from their main product (the 3D attempt didn't go so well). Can they, or do they even need to, diversify product to please shareholders? Obviously having a lot of product isn't the key to success since Sony has had a difficult go of it, but will shareholders be able to feel satisfied with their investment with only one release a year?
Whatever the case, we'll see a lot more of GoPro soon. This company has it going on right now in an industry that is arguably struggling.
[Via TechCrunch]
It would be awesome if the would produce a "professional" actioncam. The GoPro right now for mounting an the helmet, handtripod etc.
The "professional" actioncam for Tripod, handheld, 3-axis-gimbal etc. where no risk for any damage exist. Therefor it could be bigger. But more Power, more FPS, better Codec, Display, etc. That would be awesome and i think im not the only one who would love this!
Good luck to the company in their public offering. I personally don't see a product pipeline from the company that would interest me to invest. They seem to have a good video camera, but I'm not sure how long 1 product can continue to grow them.
IPO. The beginning of the end.
Any ideas when we will see a product refresh from GoPro? It has been a while since their last release?