After taking his company public last week, GoPro's 39-year-old founder Nick Woodman is now officially a billionaire. On Monday, the third day of trading for the sporty camera company, the stock price opened up an additional 8 percent from the close of business on Friday. GoPro shares are now up 60 percent from the IPO price of $24 a share. Cha-Ching! GoPro founder Nick Woodman is now a billionaire after taking the camera company he founded public . The day the company first went public, Woodman and his wife, Jill, who helped him found the business, sold 3.6 million shares of GoPro stock to rake in an astounding $86 million before taxes. As if that weren't enough, Forbes reports that Woodman still owns more than 52 million Class B shares, which gives him a voting stake of 48 percent of the company. When the company first went public, Woodman's shares were worth slightly more than $1.2 billion at the IPO price. As stock prices continue to increase, and including some of Woodman's other assets, Forbes estimates that his net worth is now more than $2.3 billion. Other investors are also cashing in on the IPO, including the Chinese tech manufacturer Foxconn, which owns about 11 million shares of GoPro stock that are worth a collective $425 million. Riverwood Capital, a private equity firm, currently has about $650 million in GoPro stock. Woodman's father, Dean, has also found himself an overnight millionaire. The elder Woodman loaned his son $200,000 to help get GoPro off the ground. Dean Woodman - who sold none of his shares at the IPO - now owns $280 million in GoPro shares. As Forbes notes, that is a 140,000 percent return on his initial $200,000 investment. Stock rising: GoPro stock prices have increased by 60 percent since its IPO on Thursday . The company, which has its headquarters in San Mateo, California, was founded in 2004 by Woodman and his wife. Its first product was a waterproof camera that used film. In 2006, it launched its first digital camera. Three years later it began selling a high-definition camera. The cameras are light, small and waterproof. They have other uses besides sports. TV producers use them to film in areas where big professional cameras can't go. Its list of competitors is short, but growing. Consumer electronics companies Garmin, Samsung and Sony have all entered the market. GoPro had the best-selling camcorder last year, according to government paperwork filed by the company. Since launching its high-definition camera in 2009, it has sold 8.5 million of them, including 3.8 million in 2013. Its cameras are sold in more than 25,000 stores and cost between $200 and $400. Competition: GoPro's list of competitors is short but growing, as Garmin, Samsung and Sony have all entered the market with similar products . It also sells accessories such as cases, battery packs and mounts that help users attach their cameras to surfboards, helmets or their wrists. It also has a free app and software that lets users edit, store and publish their videos to their social media accounts including Facebook, Instagram, Twitter and YouTube. Additional growth may come from the wild videos its cameras create, which the company hopes to use to create a media company. 'We believe GoPro is well-positioned to become the first media company whose content is captured exclusively using its own hardware,' the company said in its government filing.
GoPro went public on Thursday with an IPO price of $24 per share .
The company's stock prices have since increased by 60 percent .
Company founder Nick Woodman owns 48 percent of the company, which is worth more than $2 billion .
Woodman's father gave him $200,000 to help start the company in 2004 and now owns $280 million in GoPro stock - a 140,000-percent return on his $200,000 investment .
After taking his company public last week, GoPro's 39-year-old founder Nick Woodman is now officially a billionaire. On Monday, the third day of trading for the sporty camera company, the stock price opened up an additional 8 percent from the close of business on Friday. GoPro shares are now up 60 percent from the IPO price of $24 a share. Cha-Ching! GoPro founder Nick Woodman is now a billionaire after taking the camera company he founded public . The day the company first went public, Woodman and his wife, Jill, who helped him found the business, sold 3.6 million shares of GoPro stock to rake in an astounding $86 million before taxes. As if that weren't enough, Forbes reports that Woodman still owns more than 52 million Class B shares, which gives him a voting stake of 48 percent of the company. When the company first went public, Woodman's shares were worth slightly more than $1.2 billion at the IPO price. As stock prices continue to increase, and including some of Woodman's other assets, Forbes estimates that his net worth is now more than $2.3 billion. Other investors are also cashing in on the IPO, including the Chinese tech manufacturer Foxconn, which owns about 11 million shares of GoPro stock that are worth a collective $425 million. Riverwood Capital, a private equity firm, currently has about $650 million in GoPro stock. Woodman's father, Dean, has also found himself an overnight millionaire. The elder Woodman loaned his son $200,000 to help get GoPro off the ground. Dean Woodman - who sold none of his shares at the IPO - now owns $280 million in GoPro shares. As Forbes notes, that is a 140,000 percent return on his initial $200,000 investment. Stock rising: GoPro stock prices have increased by 60 percent since its IPO on Thursday . The company, which has its headquarters in San Mateo, California, was founded in 2004 by Woodman and his wife. Its first product was a waterproof camera that used film. In 2006, it launched its first digital camera. Three years later it began selling a high-definition camera. The cameras are light, small and waterproof. They have other uses besides sports. TV producers use them to film in areas where big professional cameras can't go. Its list of competitors is short, but growing. Consumer electronics companies Garmin, Samsung and Sony have all entered the market. GoPro had the best-selling camcorder last year, according to government paperwork filed by the company. Since launching its high-definition camera in 2009, it has sold 8.5 million of them, including 3.8 million in 2013. Its cameras are sold in more than 25,000 stores and cost between $200 and $400. Competition: GoPro's list of competitors is short but growing, as Garmin, Samsung and Sony have all entered the market with similar products . It also sells accessories such as cases, battery packs and mounts that help users attach their cameras to surfboards, helmets or their wrists. It also has a free app and software that lets users edit, store and publish their videos to their social media accounts including Facebook, Instagram, Twitter and YouTube. Additional growth may come from the wild videos its cameras create, which the company hopes to use to create a media company. 'We believe GoPro is well-positioned to become the first media company whose content is captured exclusively using its own hardware,' the company said in its government filing.
39-year-old founder Nick Woodman is now of $24 a share. Cha-Ching! GoPro founder Nick gives him a voting stake of 48 percent of the company. When the company first went public, Woodman's shares were worth slightly more than $1.2 billion at the IPO price. As stock prices his son $200,000 to help get GoPro off the shares at the IPO - now owns $280 million in percent return on his initial $200,000 investment. Stock rising: GoPro stock prices have increased by 60 percent since its IPO on Thursday