Woodside's Nick Woodman expands GoPro stock offering

By Barbara Wood | Special to the Almanac

GoPro, the maker of rugged wearable video cameras founded by Menlo School grad and Woodside resident Nick Woodman, is going public soon and taking steps to make sure its loyal fans can get in on the action.

Nick Woodman. (Photo courtesy GoPro Inc.)
The initial public offering of GoPro stock was announced in February, but on June 11 the company said it has taken steps to allow ordinary investors, such as fans of the cameras, to take part. Part of the offering will be made through an online company called Loyal3, which allows any investor to purchase initial public offering stocks through the website,, without fees.

"At GoPro, we realize that it's the people who love our products and what we do who are the real heroes here, and it just made sense for us to level the playing field and include them in our IPO," said Mr. Woodman, CEO of GoPro Inc.

The GoPro camera, which is rugged and waterproof and designed to be strapped on to just about anything from the users' chest to the handlebars of a bike or a firefighter's helmet, takes both still and video images, and can be purchased for under $300. It is a favorite of sports enthusiasts who want to document their daring deeds.

Mr. Woodman, who graduated from Menlo School in 1993, founded the company in 2002 at the age of 26, using mostly money he borrowed from his parents. His original idea was to develop a camera that could make surfers look like professionals.

In 2012, the company sold an 8.8 percent interest to FoxConn, a Taiwanese electronics manufacturer, for $200 million, valuing GoPro at $2.2 billion.

On June 11, in an updated filing filing with the Securities and Exchange Commission, GoPro said the company and shareholders plan to sell a total of 17.8 million shares, with the price anticipated to be between $21 and $24 per share, valuing the company at nearly $3 billion at the top end. GoPro reported 2013 sales of $986 million with a profit of $60.6 million.

The company's success has come while other camera makers have lost sales to smartphones. Part of GoPro's success has been attributed to the huge number of videos made with the camera and posted on YouTube, where some get millions of views. GoPro often uses these videos in its advertising, including a 2013 Superbowl commercial of a baby learning to walk and being tossed in the air.

● Click here to see June 11 updated financial filing with the Securities and Exchange Commission.


Like this comment
Posted by Go Pro Fan
a resident of Portola Valley: other
on Jun 13, 2014 at 3:30 pm

Thank you Mr Woodman, for helping the smaller people in the community support your endeavors! My son is a great fan, and being able to invest his minimal earnings in something he believes in, is a good economic lesson and introduction to the stock market.

Like this comment
Posted by Elsie Floriani
a resident of Menlo Park: Downtown
on Jun 14, 2014 at 12:01 pm

Look for Nick Woodman on the cover of Gentry's new magazine, SV, a brand new quarterly coming out in the near future. We have the inside story of a super young man who never gave up.

Don't miss out on the discussion!
Sign up to be notified of new comments on this topic.


Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Fu Lam Mum shutters temporarily in Mountain View
By Elena Kadvany | 5 comments | 2,349 views

What Are Your Gifts that Must Be Shared?
By Chandrama Anderson | 1 comment | 1,518 views


Readers' Choice ballot is here

It’s time to decide what local business is worthy of the title “Almanac Readers' Choice” — and you get to decide! Cast your ballot online. Voting ends May 29th. Stay tuned for the results in the July 19th issue of The Almanac.