GoPro is planning an IPO
GoPro has announced plans to have an initial public offering of their stock. GoPro filed their IPO confidentially so the company will not have to reveal their financials until later. Twitter did the same thing when they went public in September 2013.
To prepare for their IPO, GoPro hired Jack Lazar as CFO on Tuesday. Lazar has experience in taking companies public as he worked at Atheros as the CFO during their 2004 IPO. He also oversaw the sale of Atheros to Qualcomm in 2011.
GoPro builds action cameras that are small, weather-proof, and mountable. The cameras have excellent video quality and battery life. Felix Baumgartner used a GoPro camera when he jumped from space in 2012. GoPro is commonly used by action and extreme sports enthusiasts. It is also used on drones and quadcopters.
Foxconn invested $200 million in GoPro in late 2012 and received a 9% stake. Foxconn is an electronics manufacturing company that is known for building iPhones and iPads. That investment valued GoPro at around $2.25 billion.
[Source: CNN]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry