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Riverwood’s GoPro eyes $3bn IPO

12 Jun 2014

scary stuffPrivate equity-backed wearable sports cameras maker GoPro expects to be valued at up to $3bn in an IPO.

The company, which is backed by Riverwood Capital, has set the indicative price range for the IPO at between $21 and $24 per share.

GoPro expects to sell 8.9m shares worth as much as $427m.

In the first quarter of this year, GoPro saw its net income decline to $11m from $23m a year earlier despite an eight per cent increase in revenues to $235.7m

The company plans to use part of the IPO proceeds to repay its debt, which stood at just over $110m at the end of March.

Last month AltAssets reported that GoPro’s backed Riverwood had raised $1bn for its second growth equity fund, which has a hard cap of $1.25bn.

Riverwood Capital’s current fund was closed in April 2011 and currently has $780m of committed capital, with about half invested in twelve companies.

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