Camera Maker GoPro Announces Plans For Multibillion-Dollar Initial Public Offering

Camera manufacturer GoPro, the "maker of small action cameras beloved of surfers and snowboarders, on Friday broadcast its plans for a multibillion-dollar initial public offering," according to Bradshaw & Massoudi of the FINANCIAL TIMES. One "person close to the process" said that the company is expected to raise $300M-$500M. JPMorgan, Citigroup and Barclays "are advising on the IPO." In the past few years, GoPro's $300-$400 Hero devices "pioneered the market for hardy, wide-angle-lens cameras that people use to film their own extreme sports activities, sharing videos through social sites such as YouTube." GoPro sponsors "several athletes competing at the Sochi 2014 Winter Olympics" including former Gold Medalists "Shaun White, a snowboarder, and Julia Mancuso, a slalom skier" (FT, 2/7).