Friday, February 7, 2014

GoPro Plans IPO

Action sports camera maker GoPro--which has operations in San Diego--said Friday that it plans to conduct a registered, initial public offering of its stock. The company, which has headquarters in San Mateo, said it made a confidential submission of its draft registration statement Friday to the SEC. Those documents are typically made public until after SEC review, under the new SEC confidential IPO filing rules. If success, the IPO is a win for Southern California's tech community--despite the company being based up North--since one of its major backers is Steamboat Ventures, and many of the company's employees were previously at San Diego-based Cineform. The company's founder--UC San Diego grad Nicholas Woodman--came up with the idea for the company's cameras while surfing the waves off San Diego.

---