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GoPro goes public with confidential IPO

Action camera maker GoPro is the latest tech company going public.

The San Mateo, California based firm has announced plans to conduct a registered initial public offering of its common stock. "The offering is expected to commence after the SEC completes the review process initiated by GoPro's confidential submission on Friday February 7, 2014 of its draft registration statement," the company said in a brief statement.

The move makes GoPro the latest tech firm to file for a confidential IPO, followingcloud storage company Box and social media giant Twitter. This means GoPro will be able to keep much of its operating information a secret until shortly before its shares begin to trade.

The announcement comes after GoPro earlier this week appointed former Qualcomm executive Jack Lazar as Chief Financial Officer. Lazar will report directly to GoPro Founder and CEO Nick Woodman, and be responsible for the company's global financial operations.

Founded in 2002, GoPro is a favourite among extreme athletes and amateur adventure-seekers. The company most recently introduced its Hero3+ line of cameras, which are up to 20 per cent smaller and lighter than previous models and feature 30 per cent better battery life. GoPro also recently announced plans to launch Channel apps for Microsoft's Xbox 360 and Xbox One video game consoles later this year.

Meanwhile, GoPro is in Sochi for the Olympics, where Russian snowboarder Alexey Sobolev strapped on one of the company's cameras for a ride down thecontroversial snowboard slopestyle course.