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06-11-2014, 04:54 PM #1
GoPro Set to Offer "Family and Friends" IPO Stock at Wall Street Price
GoPro, a personal camera manufacturer, sells action accessories that connect to Apple’s iPhones. The company is making an allowance for stock to be sold to individual investors when they do public offering. This will allow fans and customers of the company to buy shares before trading even begins. 1.5% of the issue will be sold via Loyal3, a social IPO platform and GoPro will be offering IPO shares to “family and friends.” Nick Woodman, founder of GoPro has said that this move is to thank customers for all their support in the past years.
According to Woodman,
While with most IPOs, 'friends and family' are defined as a few select people, with our IPO, all of our customers and fans who love and support our brand are considered our friends and family. If it weren't for you, we wouldn't be here today, and not a day goes by when we don't realize and appreciate that.
GoPro started as Woodman’s project to make a better camera for obtaining surfing footage. The company’s current president is Tony Bates, who was previously a long time Microsoft executive and left because it was passed over to CEO Steve Ballmer instead.