GoPro cameras are amazing, particularly if you’re up for blazing down the slopes, jumping out of planes or swimming deep below the surface of the ocean. Now, the company may be trading its parachutes and snorkels for a suit and tie. On Friday, the firm revealed it has filed the necessary documents with the Securities and Exchange Commission for a confidential initial public offering (IPO). In other words, you may soon be able to buy your own stock in the company.
Forbes said the company has long denied any plans to move from a private company to a public one, and has instead preferred to rely on its own sales and two rounds of investments from outsiders for growth. The news outlet also suggested that GoPro’s confidential application suggests sales have slowed, since a confidential filing with the SEC requires “less than $1 billion in sales.” Additional funding from public shareholders could give GoPro the cash it needs to expand even further.
We don’t yet know when GoPro will begin to trade publicly, though we expect that to happen in the coming months.