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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.

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.

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