Tomahawk, WI 07/01/2014 (Basicsmedia) – GoPro Inc (NASDAQ:GPRO) made its impressive debut on the NASDAQ platform, and since then its sky-rocketed by 60%. The company started trading under symbol GPRO on Thursday. It went public with an IPO price of $24 per share. The 48% of the stake in the company is owned by its founder Nick woodman. The flying spree of the company’s stock price has made the founder an overnight multi-billionaire
Return on Investment
Woodman started the company in 2004 with an initial investment of $200,000. An investment of $200,000 has turned into $280 million in stock. It is a huge 140,000% return on $200,000 investment. It is a great success for Nick Woodman who is just 39 year old. He with his wife Jill sold 3.6 million shares of GoPro on the first trading day. It made him earn around $86 million before taxes. Still, Woodman has more than 52 million Class B shares. It makes him own voting stake of 48% in GoPro Inc (NASDAQ:GPRO). His worth estimate is said to exceed $2.3 billion.
GoPro stock closed higher on Friday with gains of more than 50%. The end of debut week was good, and it seems the next week is going to follow the same trend. The stock gained another 8% on Monday. There are many other investors who are benefiting from the rise in stock price. It includes Foxconn holding 11 million shares, Riverwood Capital, Woodman’s father and others. Woodman’s father Dean has not sold any of his shares till now.
GoPro Inc (NASDAQ:GPRO) is a sporty camera company with Headquarters located in San Mateo, California. The first product launched was a waterproof camera. It was a conventional form of camera that used film. Then it came with the first digital camera in 2006 and from there on the journey to success never stopped.