Report: GoPro Might Be Throwing In The Towel

And it just keeps getting worse for GoPro.

To recap, the floundering action cam company has been in poor financial health for years. Hundreds of staffers packed up their desks and skateboards in a round of layoffs affecting between 200 and 300 staffers over the weekend. Many of those let go were attached to the company's barely-functioning aerial division, which GoPro announced it was shuttering earlier today. Can it get worse for this flagging, once-hyped company? Yes!

According to CNBC, CEO Nick Woodman is considering a partnership or sale of his company, and has paid for the services of J.P. Morgan Chase to help facilitate it. That report contains the telling line:

It's unclear if there is an interested buyer for the company.

We may be jumping the gun here, but just in case - lets pour one out for GoPro. You were always too extreme for this mundane, price-conscious planet.

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Comments

    It will suck if they go down, they started a whole category. There was just too many other companies cutting their grass recently. Going into drones was a mistake, as they burned too many resources getting it up and running, and perching a big heavy gopro on the front of a lightweight drone was never going to work.

    They should have stuck to their knitting and just made the best action cams. It took them too long to introduce electronic stabilisation and they should have learned from Nikon to just buy the best sensor tech from Sony. Their sensors were good, but not the best, so their footage was not the best.

      I'd add that they were too focused on one upping their own products with minor updates constituting entirely new cameras. If it were me, I'd have put more resource into the software division to make Quick a LOT better, increased the product life of each model and released major updates as time went on.

      I think there were too many ego factors involved.

      Nick was on the up and up, paid himself a large salary (100+ million at some stages)
      Nick wanted to keep growing and growing, stock price hit a $70 high (currently trading at $6.50)
      He tried everything from trying to launch a marketing channel for gopro footage that failed
      Launching a drone with heavy marketing that was demolished 2 weeks later by the DJI Mavic and then hit with quality issued that caused the drone to fall
      Re-launching new cameras that were only a little better than mobile phone camera.

      I think 3 things that hit gopro were:

      - Apple and Samsung led the charge by implementing great cameras with Optical Image Stabilisation. Even the latest Go Pro 6 doesn't have Optical Image Stabilisation but only Electronic Image Stabilisation
      - DJI Mavic pro destroyed Karma drone
      - People did not want to upgrade their GoPros.

      I'm a current stock holder of GoPro and YES I AM PISSED!!!!

        You're first two sentences say it all,it sounds like they had arrogance by the trainload.
        The dumbest person in the world could have told him they would have trouble competing in the long run.It's not like they were making something others couldnt make

        For me the product was just too expensive... $500 for a product that was superseded every 5 minutes with a new version.

        Nick was on the up and up, paid himself a large salary (100+ million at some stages)

        I know he paid himself a lot of shares, but this is all tied to the performance of the company. I'm not sure he actually ever paid himself $100m+ in currency. His salary if I recall was < $1m/pa. Potentially he has bonuses around $1m-$2m, but to get that the company needs to perform. If the share price has dropped so has his remuneration value (he lots his billionaire tag a couple of years ago as the share price fell).

        Edit:

        Some quick googling

        https://www.bloomberg.com/news/articles/2018-01-08/gopro-s-woodman-got-287-million-for-2014-now-he-s-a-1-ceo

        So yeah, he gave himself a bunch of shares which are now worth much less.

        Last edited 09/01/18 8:17 pm

      There are plenty of people strapping a GoPro to the front of drones and they fly just fine. Just look at all the Drone Freestyle videos on YouTube ????

    Yet to meet someone who owns a GoPro who has any footage worth watching.

    I think if GoPro ceases to exist, the earth will continue spinning. 99% of footage ever captured with GoPro and the like is stomach churning shite.

    Whoever shot the other 1% can figure out how to still get their footage.

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