GoPro, maker of the wildly popular action sports wearable cameras, is going public. The company said today it has confidentially filed IPO documents with the Securities and Exchange Commission.
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.
This article originally appeared on Recode.net.
Will you support Vox’s explanatory journalism?
Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:
First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.
Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.
So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)
If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via