At the beginning of June we wrote about Nicholas Woodman becoming a billionaire with the June IPO, 10 years after he founded GoPro.
The IPO actually took place last Thursday at $24 (Nasdaq: GPRO), it has been on fire ever since. On the 4th day of trading it now has almost doubled, currently at just over $47.
This values the company at close to $6 billion and Woodman still owns 48% of the shares. Not only did the former surfer create an amazing brand in such short period of time, this is also a family investment story that actually ended well. His father gave him $200,000 when he started the company and didn’t actually sell any shares during the IPO, now they are worth several hundred million.
The guys at GoPro must certainly be feeling good, as will early investors but now comes the time to deliver as well. Being public and with the current valuation, the company will need to deliver in terms of revenue growth and profitability. It has been a year since GoPro launched the Hero3, it will be interesting to see what is coming in the near future.