GoPro (GPRO, Financial) is a company with $1.82 billion in sales and is a manufacturer of Action Cameras, Smart Remotes, Tripods and accessories. Its cameras are shipped to 200-plus countries worldwide. The company's products started with the GoPro Hero 35mm all-season sports camera, first sold in 2005. GoPros are now sold in 15,000 retail stores and 80 countries worldwide.
The company is currently popular with active individuals who love it for its ability to help them record and share their most meaningful experiences. The company has been growing 43% quarter over quarter and has expanded into markets such as Brazil and Munich. Investors such as Joel Greenblatt (Trades, Portfolio) have bought or sold stock in the company. Greenblatt started buying shares in the company in 2014.
GoPro's main product is its HERO4 SILVER. The company manufactures them in China and Brazil and distributes them through authorized dealers. The products are sold in stores such as bike shops, outfitters, ski shops and sporting goods stores. The company also sells mounts, accessories, software, and apps which customers use when they are on the go.
The company has product lines that include HERO, Hero4, Hero+, HERO3 HD, Hero2 Surf, Session Adventure, Silver Editions, Waterproof lines and the White Edition. Its products include floating hand grips, smart remotes, mounts, head straps and rechargeable batteries. The company currently owns Kolor, which is a virtual reality company, and CineForm, which is a video technology company. The strength of GoPro is not only in its products but also in its strong brand name. Today, the company is doing 50% of its sales internationally.
The company started in 2002 with its first product –Â fashionable camera straps. Thirteen years later, the company is selling HD video cameras. While the company sells bundles, power packs and helmet mounts, its core business is its "tiny, self-sufficient camera" as it is called by Fast Company.
The only significant change today would be the company's more highly advanced products and its billions in sales. Thirteen years ago the company had seven employees. During that time the company had annual sales of $150,000. Twelve years later, in 2014, the company was selling 5.2 million cameras annually. In 2009 an article in Engadget said, "What's this, another tiny, high-definition camera to strap onto your person before doing something wild and crazy? Yes, it's the latest pixel-pushing contender for high-def helmetcam supremacy, the GoPro HD Hero; a little gray box in a waterproof case that can record 1080p at 30fps, 720p at 60, and comes with a selection of mounts that will enable the thing to hang on to just about whatever you want to sling it from -- but at $299 you might not feel particularly inclined to put it in harm's way."
Today, more than six years after that article was published, GoPro is still gaining publicity for the amazing footage its users have recorded. The only difference is its sales volume. Since 2009 the company has sold 8.5 million cameras and sales have doubled every year since 2004.
Founder/CEO Nick Woodman currently owns 25% of the company. He later said in an interview, "It sounds so basic, but before GoPro if you wanted any footage of yourself doing anything you needed a camera and you needed another person holding the camera filming you. And they needed to have skills with the camera. And let’s say you wanted to do anything involving motion. That person would need to be moving with you. GoPro lets people take other people along for the ride with them. That’s led to content that was never possible before and shared experiences that were never possible before."
Terry Gou likes GoPro for its "innovative technologies including technology to provide global consumers with [a] great viewing experience," as told to Forbes. What caught Gou's eye was "GoPro is a consumer-branded version of this vision that he’s had for 20 years.” as Nick Woodman told Forbes.
