GoPro has announced plans for an initial public offering of stock. The video camera brand favored by action sports enthusiasts filed its IPO confidentially on Feb 7th. GoPro will not have to reveal its financials until shortly before shares begin to trade. /
Twitter filed a similar confidential IPO in September 2013 as well as cloud storage company Box in December.
According to sources through the Wall Street Journal, GoPro plans to raise approximately $400 million, though the final amount has yet to be decided. The deal is expected to reach the market with the overall valuation hoped to be well above the $2.3 billion it was valued at in a 2012 fundraising round.
In the past few years, GoPro’s $300-$400 Hero devices pioneered the market for wide-angle-lens cameras. It sponsors several athletes competing at the Sochi 2014 Winter Olympics including Shaun White and slalom skier Julia Mancuso.