GoPro, the miniaturized action camera that has quite literally introduced viewers to new perspectives on the world—from child to canine—raked in a cool $427 million in new funding Wednesday with the launch of its initial public offering (IPO). Thanks to investors shelling out $24 each for some 17.8 million shares, the San Mateo, Calif., company saw it’s IPO debut at a whopping $2.96 billion.
Nicholas Woodman, the 39-year-old CEO who conceived of the idea on a surfing trip over a decade ago, can now call himself a billionaire due to his post-offering share count of 52.4 million shares being valued at $1.3 billion. That’s a number that’s on the rise, as Thursday afternoon saw stock prices climbing 31% to $31.40.
Here's a GoPro monkey selfie to celebrate and 10 reasons you should be investing in this new way to shoot video:
From what we've seen from GoPro users so far, the tiny, durable action camera allows you to:
- Go inside the mouth of an Alaskan grizzly
- Get familiar with the chompers of a crocodile
- Finally find out what flying truly feels like
- Remember what it's like to be a kid again
- Get the Olympic experience firsthand
- Gain a whole new appreciation for Brad Paisley's guitar solos
- Figure out what the hell is going on in your dishwasher
- Gain empathy for those less fortunate
- Experience a brush with death without a scratch
- Find out what happens when you piss off a ram
- Snag a glimpse inside North Korea