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Picture Perfect: Action Camera Maker GoPro Surges 30% in IPO

 / Updated  / Source: Reuters

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GoPro is snapping promising shots of stock market action. Shares in the popular action camera company soared over 30 percent in its first day of trading as a public corporation on the Nasdaq exchange Thursday. The stock began trading at its IPO price of $28.65 and rose above $33, valuing the company at about $4 billion. The stock closed at $31.34, up 30 percent for the day. Videos taken using the company's wearable cameras have made a big splash on the Internet. The company says its videos attracted more than 1 billion views in the first quarter on YouTube, where its channel has 2 million subscribers. Founded by Nicholas Woodman in 2004, San Mateo, California-based GoPro has stores around the world and nearly doubled in revenue between 2012 and 2013 to $985 million.

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