GoPro has been in the news a fair share lately, thanks to its new IPO. The company develops high-definition cameras and has been around for several years. After announcing that the company planned on an initial public offering in May, GoPro announced it was looking to raise $100 million to help pay off debts and potentially acquire technologies and businesses that might complement their own business. Here are five things you might not know about GoPro.
Huge IPO Opening Day
The company’s IPO went through the roof on the first day alone. Their goal of raising at least $100 million was surpassed in one day. GoPro managed to raise $427 Million on the first day as a public company on June 26. At the time of this writing the stock is up 105%.
Value
GoPro was hoping to raise a little money to be able to pay off debts and maybe venture into a bigger business, but they raised much more than that. The current price of the IPO ensures that the company is now worth a staggering $2.95 billion.
More Extreme Sports
The GoPro camera is something that sports adventurers love because it allows them to capture their action moments while wearing the camera. However, the introduction of these cameras has led to an increased participation – or just video participation – in more extreme sports. Athletes and adventurers are now armoring their cameras and strapping them to their baseball bats, hockey sticks and even to animals.
It’s Not a Camera
GoPro does not market their cameras as cameras. They market them as capture devices, with the sole purpose of capturing moments on film that might not otherwise be captured. It also comes with an app that allows you to easily manage and share what you capture.
It’s Not Just for Sports
Another secret to GoPro’s marketing strategy is that they simply do not rely on calling their capture device something that’s used just for sports. They market it as something that can capture meaningful life experiences. They do this to expand their market and prevent themselves from making it seem they want to keep in touch with only a small audience.
(Photo by Andrew Burton/Getty Images)
