New York Daily News

Way to ‘Go’!

Video cam firm soars in its IPO

- BY ELIZABETH LAZAROWITZ With News Wire Services

GoPro’s Nick Woodman with camera in mouth at Nasdaq bell-ringing. Below, GoPro-equipped World Cup fans.

GOPRO RODE a wave of investor enthusiasm in its market debut Thursday, surfing more than 30% higher.

The company, which makes cameras that help surfers, snowboarde­rs and other sports enthusiast­s capture their daredevil feats on video, raised $427 million in the IPO.

GoPro and some early investors sold nearly 18 million shares for $24, the top end of its marketed range.

Its shares surged $7.34 to $31.34, a 31% gain.

“They have a very dedicated, very loyal following,” IPOfinanci­al.com President David Menlow told the Daily News.

“We expect them to maintain market dominance even as others try to catch up with them.”

The IPO valued GoPro at almost $3 billion.

GoPro CEO and billionair­e Nicholas Woodman, 39, got the idea for a wearable camera a decade ago on a surfing trip because he wanted to be able to capture him and his friends shredding big waves.

The $200 to $400 gadgets — which can be strapped to a person’s body for a first-person perspectiv­e or mounted for a “selfie” view — have been used to capture everything from Felix Baumgartne­r’s recordsett­ing jump from a stratosphe­ric balloon 24 miles high to a firefighte­r rescuing a kitten from a smoke-filled building.

Olympic gold medalwinni­ng snowboarde­r Shaun White and The Rolling Stones, who have strapped them on during concerts, are among GoPro’s celebrity users.

The company, which said videos taken with its devices have drawn more than 1 billion views on YouTube, is aiming to tap that content to boost revenues.

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