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Strap-on gumble biz GoPro files for stock market debut in US

Trendy head-cam maker hopes to raise at least $111m to pay off debts

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Wearable camera-maker GoPro has filed with US regulators to raise at least $111m in an initial public offering.

The firm, which markets its rugged wee point-and-shoots to sports enthusiasts, is breaking the mould for startups that want to go public by actually being profitable. The firm earned $60.6m in 2013, after it almost doubled its revenue to $985.7m.

The company said it wants to sell shares so it can pay off its debts and grow the business. According to a filing with the Securities and Exchange Commission, GoPro wants to use the money to fully repay a loan that has an outstanding balance of $111m, as well as investing in the firm, including potential acquisitions or new technologies, although it doesn’t have its eye on anything just yet.

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The success of GoPro has been tremendous, and that's because it's good kit - The Reg has used a couple on our LOHAN project (see above), to impressive effect. However, there are some serious pretenders to the company's action camera crown, not to mention knock-offs, so it'll be interesting to see how GoPro’s future pans out in an increasingly crowded market. ®

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