This week, GoPro filed its S-1 document with the SEC, looking to raise US$100 million in the offering.
The brand, initially starting off as targeting mainly adrenaline junkies, is now reaching a wider audience with its wearable cameras.
Its revenues have hit US$235.7 million, for the three months ended in March this year. The year before, it pulled in US$985.7 million.
Its adrenaline-drenched videos, largely generated by the public, have easily created an strong brand presence on the internet.
GoPro’s success online looks like a marketer’s “viral” dream come true. Just take a look at the top few videos that have made it viral online from GoPro cameras:
1. Its top video is its promo of the Hero3 (More than 31 million views):
2. Second most watched video: "Fireman Saves Kitten" (More than 21.6 million views):
3. Fifth most watched video: "Lions -- The New Endangered Species?" (More than 15.7 million views)
Its online assets are impressive: Over 7.2 million “likes” on Facebook, over 2 million followers on Instagram, over 950,000 followers on Twitter and more than 1.8 million subscribers on its YouTube channel, pulling in over 450 million video views.
While the company acknowledges it has not yet monetized its content on its GoPro network, it’s not surprising that its ambitions are headed that way.
The company has tied up with Microsoft in the first quarter of the year to develop and launch the GoPro Channel on Xbox live. This is expected to give it access to advertising revenue, fees from third-party sponsorship of the GoPro Channel and ultimately sell its devices to consumers as they watch GoPro content, said the company in its prospectus.
“We expect to begin earning revenue from GoPro Channel advertising and sponsorship opportunities on Xbox Live and GoPro Channel advertising on YouTube and Virgin America in the second quarter of 2014,” said GoPro.
“GoPro revolutionized in-the-moment video, and their ability to aggregate that kind of content is great for consumers and creators, and can be one more nudge to advertisers to create content that people want, rather than interrupting what they want,” said Keith Timimi, chairman VML Qais.
Timimi added that he had been expecting GoPro to create a distribution and advertising network already.