GoPro IPO could value company as high as $3 billion, analysts say


This penguin selfie (the camera went off just as it was opening its beak) comes via a GoPro camera being used by the Canadian cruise ship M/S Expedition of the Canadian adventure travel company G Adventures. Other photos from the trip can be found on the expedition’s Twitter feed at https://twitter.com/g_msexpedition. (Photo by Alex Cowan / Courtesy of G Adventures)

Camera maker GoPro said Wednesday that its upcoming initial public offering will be priced at between $21 and $24 per share, potentially raising as much as $427 million. The IPO could value the company at about $3 billion, analysts said.

The wearable camera company has seen great success among consumers, who have embraced its clip-on cameras to record everything from trips down a zipline to some truly epic cat videos. The devices, originally conceived by chief executive Nick Woodman to be used for surfers, have become the go-to devices for those with an active lifestyle who want to share their adventures with the world.

The company first tipped its intention to go public in May, filing under provisions granted to smaller companies under the JOBS Act, which let it keep back some information such as the details of its executive compensation. But the firm did show that it was profitable -- a surprisingly rare thing for technology IPOs -- and that its sales quadrupled between 2011 and 2014.

Despite those rosy numbers, some analysts have pointed to the company's uneven quarterly revenue numbers, which GoPro said in its filing were caused by production delays. If the firm is going to scale up, analysts have said, it will have to work out how to iron out those problems.

GoPro has not released any information on the timing of its IPO, but has said that it will list on the Nasdaq under the ticker symbol "GPRO."

Hayley Tsukayama covers consumer technology for The Washington Post.
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