San Mateo, Calif.-based action camera company GoPro registered to go public on Friday.
The company is the latest to file for a "secret" initial public offering. New rules, under the 2012 JOBS Act, allow companies to keep much of their operational information out of the public eye until shortly before the shares begin to trade. The act allows for companies with annual revenues of less than $1 billion to file with the SEC confidentially.
The date for GoPro's IPO hasn't yet been set, but it is expected to be at the end of the second quarter of 2014. JPMorgan is the lead banker on the offering, with Citigroup and Bank of America as possible participants, a source told CNBC.
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GoPro's CEO and founder, Nick Woodman, started the company with $64,000 of his own capital and then got his father to put in $100,000. GoPro products are now sold through consumer electronics retailers in more than 50 countries.
Woodman has said in interviews with other media outlets that GoPro has been "profitable since day one."