world’s most versatile cameras to meet the dynamic need of its users. It enables uses share life through the most incredible videos and photos. GoPro’s mission and vision are realized through the values that helping individuals capture and share their lives’ most meaningful experiences with others, by celebrating relationships. GoPro seeks to share in the lives as experiences of its users by creating more fun in life and strengthening relationships among individuals.
BACKGROUND ORGANIZATION GoPro was founded in 2002 by Nick Woodman as Woodman Labs, Inc. The founder was motivated by a personal experience while on a surfing trip in Australia in 2002. At the trip, he was wishing to capture quality action images, but was unable to achieve the goal because amateur photographers were unable to get a close-range capture of photographs or acquire equipment at a reasonable price. In effect, Woodman’s desire for a reliable and powerful camera system that could make powerful shots at all angles inspired the GoPro brand name. Using capital, he had raised from the sale of beads and shell belts, as well as some money from his parents, Woodman established the business. In 2004, the company sold its first ever camera system which relied on film. Subsequently, GoPro introduced digital still as well as video cameras. With continuous innovation and improvement, GoPro has made significant improvements on its products. In 2014, the company launched a fixed-lens HD video camera with the ability to create a 360 degrees video. Subsequently, GoPro expanded its product scope to include video editing software as well as the Quad copter drone referred as Karma, which was launched in October 2016. GoPro is headquartered at San Mateo, California in the United States although it serves a global market. On July 4, 2014, former Microsoft CEO was appointed as the company’s president and worked directly under the founder Woodman. In January 2016, the company partnered with Periscope to facilitate access to live streaming service. By then, the company had grown its workforce to more than 500 personnel but the weak sales witnessed in 2015 prompted the firm to act by laying-off some of its staff as part of its cost cutting measures. An additional 200
employees were laid off in 2016 and the financial challenges GoPro was facing prompted it to make numerous structural adjustments in terms of corporate actions to salvage the firm. In 2016, the firm acquired two upcoming enterprises, Superflix and Vemory to support their video editing tools Splice and Replay (GoPro, 2017). The company filed an IPO (initial public offering) and its key goal of going public was to take advantage of the potential of becoming a media camera that would realize additional returns from the content of the cameras they create. The company is traded as NASDAQ: GPRO. The company subsequently focused on the integrated sport genre, developing its own line of action cameras at the time. Its key products include action camera, video editing software and mobile applications. Some of the products that the company had generated over the years include Hero
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- Spring '14