GoPro Doesn’t Keep Its Confidential IPO a Secret
Other confidential IPO filers, like Twitter and (allegedly) Box, have kept their activities more secret, but GoPro is using the process in a more pointed way, to avoid making its financial documents public while letting the world in on its general plans.
GoPro had reportedly been in talks for a $300 million to $500 million IPO back in 2012, according to Reuters. Later that year the company was valued at $2.25 billion in a transaction where Foxconn invested $200 million.
Coming on the heels of its first national Super Bowl ad last weekend — featuring footage from seven GoPro cameras of Felix Baumgartner’s famous space freefall — it’s also worth noting that GoPro has become a jumbo-sized marketer, especially in the extreme sports space that was formerly dominated by Red Bull.
According to Forbes, GoPro did $521 million in sales in 2012 and expected to double that in 2013.