Extreme IPO: Wearable camera maker GoPro’s shares hit Nasdaq

GoPro, the maker of wearable cameras loved by mountain climbers, surfers and thrill-seekers, will venture onto the trading floor of the Nasdaq stock market today. The Silicon Valley-based company’s IPO was priced at the high end of GoPro’s expected range and raised US$427 million, valuing the whole company at about US$3 billion. The proceeds from the IPO could rise to US$491 million if underwriters use their option to buy more shares.

There probably hasn’t been a consumer electronics brand as dominant as GoPro has been in its category since the early days of the iPod or the iPad.

Charlie Anderson, Dougherty & Co analyst

The company sells just one camera design under its Hero brand, which retails for between US$199.99 and US$399.99, and is extremely popular among athletes. Olympic gold medal-winning snowboarder Shaun White and 11-time world champion surfer Kelly Slater are some of the well-known names to have endorsed the company’s cameras.