Camera maker GoPro went public. The company was founded in 2004 and sources its product from China. By now, GoPro has provided hundreds of thousands of products for customers around the world and made recording their adventures possible.
GoPro going public
At the time of going public, GoPro was a profitable enterprise. For example, in 2013, it generated revenue of $985.7 million, which is more than the year before ($526 million). GoPro managed to find a niche in the highly competitive market dominated by major players and hopes that going public will be another stimulus for further development.
GoPro Inc’s initial public offering was priced at $24 per share. It means that it is valued at $2.96 b. GoPro’s founder and CEO, Nicholas Woodman, is the company’s biggest stockholder.
GoPro achieved its success mostly due to a highly successful business model. The company sells one camera model, and the products are sourced from China. The company has close ties with the Chinese factory. A proper pricing policy enables Chinese contractors to deliver units of high quality at a reasonable price. GoPro has a strong brand position and a global distribution network. When these strong points are put together, China sourcing can be a very successful operating model.
Read more about Made in China – China Sourcing.