GoPro Hits Close To 1$ Billion In Sales, Plans To IPO
GoPro, a camera and multimedia startup, has been rising in sales off one camera. Last year the camera startup reported that they almost hit 1 billion dollar in sales. GoPro’s easy to use and attachable anywhere camera, has been extremely popular lately. The company released that they have filed private securities and commission paperwork lately and that they are working with banks to hit IPO. The question is, will they be expanding their product line or will their single camera be enough to connivence investors?
Their Red Bull Story Video:
In 2012, GoPro reported around 600$ million in sales for one little camera. In order to receive Wall Street investors funding, GoPro will have to convince investors it can keep drastically improving its single product camera so existing fans will be likelier to buy newer models, and it will need to widen its ecosystem of ancillary gadgets: batteries, protective cases, attachments, etc. GoPro will probably also have to prove it can become a company that has some gravity.
That’s another reason why GoPro wants to go IPO. The startup admits that manufacturing cost for a new line of product will cost a lot and they need outside investors for the run. GoPro, does seem promising though, with the growth of partnerships with sport broadcasting and media companies, GoPro does have the ability to hit a big exit route. Another issue with creating a new camera would be the testing phrase. Will people want anything new from GoPro? The good thing for investors is that GoPro doesn’t really have any direct competitors. A major rival in the point-of-view camera competition, Contour, suffered major setbacks last year. But smartphone videos sharpen by the day, and Sony (SNE) has released a lauded point-of-view camera of its own.
GoPro did recently expand their business to a custom editable software for their camera. The startup released a free app along with a lightweight software that allows quick editing and sharing with their videos. Most people who do use GoPro aims for third party softwares that includes more video editing features. The company already has a long list of athletes on its sponsorship roster and a trove of “some of the best short-form content out there,” as GoPro founder and Chief Executive Nick Woodman told the Times. Virgin America has added an extended segment of GoPro footage to some of its in-flight entertainment. The camera company also sells accessories related to their product, such as camera mounts etc.
The camera comes with three options, white edition, silver edition, and black edition. All of them comes with wifi built in and stores elegant high quality footages. White edition starts at 199.99 and goes up to 299.99 for the silver edition.
Check out their line of products here: