In discussions with analysts and investors, however, it's clear that Woodman and Gopro's board and executive management have ambitious growth plans up their sleeve. Those strategic plans are expected to be known soon after hitting the public markets in the near future, with some hints in the S-1.  Before the pre-IPO quiet period, Woodman told The New York Times he wants to turn GoPro into a diversified media company. The demand is certainly there for GoPro's content: Google has told CNBC that GoPro videos have attracted more than 470 million views on YouTube and more than 1.8 million people are signed up to the GoPro Youtube channel.  Read More Cramer issues warning on IPOs: Be careful  Wedbush Securities' Michael Pachter said GoPro is likely to turn its content into a full programming channel, which could provide video material for cable and satellite TV networks, in addition, to the likes of Netflix and Amazon.  GoPro already has a partnership for video programming content with Virgin America and has a deal with Microsoft for the GoPro channel on Xbox360 and one coming this summer to Xbox One.  There is no question GoPro is going to offer shares in the near future, and the consensus from analysts is bullish. GoPro's cameras are selling like hot cakes, especially globally and in countries where extreme sports are big.  One of the most interesting facts that investors will be looking for is just how much money GoPro's relationship with YouTube is generating. And also what is GoPro's strategy to diversify revenues with new wearable cameras and other devices, and just how quickly does the company plan to invest in its strategy to get its compelling video on a variety of video platforms.  —By CNBC's Mark Berniker and Josh Lipton  Disclosure: NBCUniversal is the parent company of CNBC and CNBC.com.
No one questions that GoPro's mini hi-def cameras are cool, but cool and a solid investment for the future are two different things.