Shares of GoPro Inc are up nearly 30 per cent in early trading in their stock market debut.
Trading on the Nasdaq stock exchange under the symbol GPRO, the company raised $US427 million ($A454 million) after selling 17.8 million shares at $US24 ($A25.50) each, valuing the whole company at about $US3 billion ($A3.2 billion).
For its market debut, GoPro shares rose by $US7 ($A7.44), or 29 per cent, to $US31 ($A33) in morning trading after rising as high as $US33 ($A35) earlier.
GoPro popped 30% in its IPO: 佛山桑拿网,佛山桑拿网,/nQ8LPnuKNX $GPRO pic.twitter佛山桑拿网,/0fS8TlQxt7
— Forbes (@Forbes) June 26, 2014
GoPro was not the only company to benefit from the boost, with Taiwan-based GoPro assembler Chicony Electronics also getting a share price jump.
RT @JuliaCNBC: GoPro assembler Chicony Electronics up 2.6% in Taiwan following $GPRO debut: pic.twitter佛山桑拿网,/KRundbPbiS
— CNBCWorld (@CNBCWorld) June 27, 2014
“I started this business, and it wasn’t even meant to be a business,” said GoPro CEO, Nick Woodman. “But it is now an almost $4 billion business, with close to a billion dollars in revenue last year- and a lot for investors to be excited about.”
GoPro was founded in 2004 by Nick Woodman, who hit upon the idea while on a surfing trip to Australia. He raised his first funds to develop the camera by selling seashell necklaces along the California’s coast.
The Californian-based company makes wearable sports cameras that are used by skydivers, surfers and other extreme sports fans to film themselves or create first-person videos that capture the experience as they see it.
Post by GoPro.
What makes GoPro so successful?
According to Wired magazine, the success of GoPro is somewhat of an anomaly, especially in the age of the smartphone. Analysts say it’s because GoPro has successfully branded itself as an adventure sports tool, more so than a camera manufacturer.
“They don’t just sell a video camera, they sell the memory of the wave or the ski trip down the slope,” Ben Arnold, a consumer technology industry analyst at The NPD Group, told Wired.
“I think we are entering an age where lifestyle in technology is becoming very important.”
According to the company’s S-1 filling, people uploaded 2.8 years worth of videos with the words ‘GoPro’ in the title in 2013 alone. Wired also reported that in the first quarter of 2014, users watched more than 50 million hours of video with the words ‘GoPro’ in the title, description, tag or filename.
Top 5 GoPro videos
With that said, here are our top 5 GoPro videos:
1) Superman With a GoPro
Filmmakers in Los Angeles have attached a GoPro camera to a drone and added special effects to create a point-of-view extravaganza that has quickly amassed more than a million views on the video sharing website YouTube.
2) Felix Baumgartner freefalls from space, breaks sound barrier
“Sometimes you have to go up really high to understand how small you really are. I’m going home now,” said Felix before he lept 39 kilometres (128,100 feet) above the Earth’s surface.
3) Fireman rescues kitten from burning house
More than 1.8 million people have seen this GoPro video of Californian firefighter Cory Kalanick rescuing an unconscious kitten from a burning house filled with smoke.
4) Vertical Skydiving, anyone?
5) The lion whisperer
Kevin Richardson is a South African ‘lion whisperer’ and animal behaviourist. Watch as these lions happily let him pat and play with them.
What are your favourite GoPro videos or moments? Tell us in the comments below.