GoPro go public? That’s the plan, says Reuters
posted Thursday, August 2, 2012 at 2:14 PM EDT
Action camera maker Woodman Labs Inc.--better known by its GoPro brandname--is planning an initial public offering that could happen as soon as this year, according to a report from the Reuters news agency. The goal of the IPO would be to raise some US$300-500 million, according to Reuters' unnamed sources.
Underwriters for the deal would include JPMorgan Chase, Citigroup, and Barclays, says Reuters, although it notes that all three declined comment. Woodman itself, meanwhile, couldn't be reached for comment.
Woodman's GoPro series faces increasing competition, as major electronics manufacturers such as JVC and Sony have announced plans to launch models in the action camera space this year. JVC intends to ship its competing Adixxion camera later this summer, while an unnamed model from Sony should follow in the fall.