{"id":159472,"date":"2021-09-22T07:43:21","date_gmt":"2021-09-22T12:43:21","guid":{"rendered":"https:\/\/www.premiumbeat.com\/blog\/?p=159472"},"modified":"2021-09-22T07:43:22","modified_gmt":"2021-09-22T12:43:22","slug":"rise-fall-of-the-gopro","status":"publish","type":"post","link":"https:\/\/www.premiumbeat.com\/blog\/rise-fall-of-the-gopro\/","title":{"rendered":"The Rise, Fall, and Rise Again of the Illustrious GoPro"},"content":{"rendered":"\n

As GoPro celebrates the launch of their tenth product, it\u2019s time to look back at the rollercoaster ride of their last twenty years.<\/span><\/h2>\n\n\n\n

If you picture a Californian tech entrepreneur, you might think of Steve Jobs of Apple or Jim Jannard of RED cameras<\/a>, but would you think of Nicholas Woodman, founder of GoPro? He actually started the company in 2002 with a typical California backstory and a loan from Mum and Dad. <\/p>\n\n\n\n

\"GoPro<\/a>
The new GoPro Black HERO10, a culmination of nearly twenty years of innovation. Image via GoPro<\/a>.<\/em><\/figcaption><\/figure>\n\n\n\n

Woodman took the company to their IPO in 2014 when annual revenues topped nearly 1.5 billion dollars. But, a number of unsound investments in drone technology with their Karma product, virtual reality with their purchase of a French VR company, and chasing the 3D market maybe took their eye off selling the basic GoPro camera product.<\/p>\n\n\n\n

Woodman was also a big fan of refreshing his entire product line—he did it twice. But, ultimately, sales began to slide even though innovation within the product was constant. <\/p>\n\n\n\n

Were the lifestyle or action videographers turning their back on the brand that started it all off? Was the smartphone just too damn smart and ubiquitous?<\/p>\n\n\n\n

2020 wasn\u2019t a good year for anybody, but especially a brand that essentially needed you to go outside to use it. Revenue was down 25% from 2019 at $891,925. <\/p>\n\n\n\n

However, a complete restructuring of the business has now turned GoPro into a direct-to-consumer retailer and it\u2019s paying dividends. <\/p>\n\n\n\n

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