Thursday, June 26, 2014

GoPro Prices IPO, To Trade Today

Action sports camera maker GoPro priced its IPO at $24.00 per share, and will start trading today on the NASDAQ Global Market as GPRO. The company--although based in San Mateo--has a number of Southern California ties, including founder Nicholas Woodman, who founded the company at UC San Diego, operations in San Diego (thanks to the acquisition of Cineform), and investors via Steamboat Ventures (the venture arm of Walt Disney). The IPO raises around $427M for the company, and values the company around $2.96 billion. The company priced its IPO at the high end of its estimated initial IPO range, which was between $21.00 and $24.00 per share. Woodman came up with the idea for GoPro while surfing off of San Diego.

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