GoPro is leveraging the desire of travelers and others to share every moment of their lives with friends and on social media. It's ironic that with all this sharing, GoPro has decided to share its financials confidentially with the SEC -- for now.
GoPro, which makes cameras that make it easy for users to share their photos and videos online, announced it intends to conduct an IPO.
No details about the IPO are available because, like La Quinta and Twitter have done, GoPro has filed its registration statement confidentially with the Securities and Exchange Commission.
GoPro says the IPO would begin “after the SEC completes the review process.”
GoPro appointed a new CFO with public company experience in preparation for the IPO.
The company has raised about $200 million in venture and private equity funding, according to CrunchBase.
Filing IPO statements confidentially is not the norm, although it is becoming more common and is permissible under the Jumpstart Our Business Startups (JOBS) Act, which became law in 2012 and permits emerging businesses under certain circumstances to file their registration statements privately and to negotiate with the SEC behind the scenes. The documents eventually become public.
GoPro’s products include cameras, accessories, and software.
The GoPro app is designed to make it easy for users to share photos and videos via email, text, Instagram and Facebook.
Have a confidential tip for Skift? Get in touch
Photo credit: The GoPro app makes it easy to share photos and video on social media sites such as Facebook and Instagram. GoPro