What started as one surfer’s idea to tether a video camera to his wrist to record his exploits on the ocean became a $3.5 billion empire on Thursday, when GoPro Inc. began trading on Wall Street in one of the largest IPOs by a consumer hardware company in decades.
Closing price for GoPro’s stock. The sports video-camera maker began trading at $28.65, 19 percent above the price it set late Wednesday.GoPro had priced shares at $24, the high end of the $21 to $24 range offered in its IPO filings, fending off pressures to raise the amount..
Amount GoPro raised in its public debut, becoming the largest consumer electronics IPO since Duracell, which went public in 1991 and raised $433 million, according to investment research and data provider Dealogic. The company began trading at about 8 a.m. on the Nasdaq stock exchange under the ticker symbol GPRO.
Number of cameras GoPro has sold since 2009. The high-definition camera is a small and lightweight gadget that can be taken to the ocean floor, through a blizzard or miles above earth; without glitter or flair but durable enough to survive most crashes and tumbles.
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