This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

GoPro Gears Up for Today's Adrenaline-Pumping $3B IPO Engagement

NEW YORK (TheStreet) -- The action sports camera maker GoPro is gearing up for its debut at Nasdaq in what could be the biggest consumer electronic initial public offering in more than two decades.

GoPro expects to sell 17.8 million shares priced at between $21 and $24 per share, valuing the company at nearly $3 billion.

GoPro operates in a fiercely competitive market which includes camera makers such as Canon (CAJ) and Nikon (NINOY), consumer electronic giants and smartphone makers such as Samsung (SSNLF), Sony (SNE) and Apple (AAPL), specialty equipment makers like Garmin (GRMN), as well as Google (GOOG) (GOOGL) whose Google Glass has been used by skydivers.

However, GoPro's strength lies in its management team, which includes its charismatic founder and executives from Microsoft (MSFT) and Qualcomm (QCOM), its large customer base, a powerful brand and a strong track record of growth.

>>Read More: Will GoPro IPO Wipe Out or Live Up to All This Hype?

The IPO market has been going hot this year. So far, 144 companies debuted raising more than $30 billion. However, there hasn't been any activity in the consumer electronics space since Skullcandy (SKUL) got listed in mid-2011.

GoPro expects to raise nearly $400 million from the offering which will be used for repaying a $111 million term loan, making acquisitions and for general corporate purposes.

GoPro was founded in 2004 by Nick Woodman, a surfer and a self-made billionaire, and shipped its first camera that year. This year, the company will likely generate more than $1 billion in revenues, primarily coming from the sale of its flagship HERO line of cameras and accessories.

GoPro has recently made some high-profile appointments at its top. This year, the company hired Microsoft's former vice-president for business development Tony Bates as its president and Qualcomm's executive Jack Lazar as its CFO.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs