What Happened To GoPro?

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GoPro is one of the most popular action cameras in the world which is not surprising given that GoPro basically invented the niche themselves. Before GoPro, adrenaline junkies had to either had to spend a substantial amount of money purchasing expensive camera equipment or they had to settle with recording from a distance. GoPro's cheap and durable cameras revolutionized the way that sports could be captured from the first-person point of view. Even today, GoPro cameras are still quite dominant within the action camera space. However, the same cannot be said about the company itself which has been losing hundreds of millions per year since 2015. When GoPro initially went public, investors pumped the stock to nearly $100 per share, but as GoPro missed expectation after expectation, investors have fled the stock making it nearly a penny stock today. Nick has been trying to stage a turnaround over the past few years and it looks like it may be working given that GoPro just had their first positive 12 month period since 2015. This video explains the meteoric rise and unforgiving fall of GoPro and what happened to GoPro.

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Timestamps:
0:00 - The Merciless Fall From Grace
0:58 - The Good Life
4:03 - Blinded By Success
7:04 - Living In The Future
7:40 - Poor Expansion
8:35 - Lack Of Passion
9:15 - Keep It Simple

Thumbnail Credit:
Yuukiix

Resources:

Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.

[hotchi]

I once watched an interview with Frank Wang, the CEO and founder of DJI. He said that when they were developing a new generation of phantom drones, they wanted to cooperate with GOPRO. However, the CEO of GOPRO requested that DJI develop and produce drones, GOPRO only provides their cameras. However, for the profits of the entire drone, GOPRO will get 70% and DJI 30%. DJI considered this an insult to them and gave up the cooperation with GOPRO and produced its own cameras. From then on, because of GOPRO's rudeness and arrogance, GOPRO lost one partner and got one more competitor.

[olivernordin]

Smartphones killed gopros for the mainstream. We action sports athletes still use them though

[macleunin]

The drone was a logical thing to add to their portfolio, because it complements their main product (cameras) and it meets the needs of their main clients (outdoor people).
They just should’ve put more effort in the project.

[DoctorMotorcycle]

I use a Hero 8 Black for my motovlogs with an ND Filter and the quality is actually pretty good. It's hard to appreciate how much GoPro's have improved until you compare a Hero 2 or 3 to an 8-9-10. Being able to see the screen + make adjustements while it's mounted to my helmet is awesome. Not to mention, no more checking in the mirror or pulling my helmet off and awkwardly looking at the camera to see if it's recording lol.

[marylim]

What went wrong with GoPro in my views-
1) Going IPO is a mistake
2) No improvement is making it smaller and lighter with longer battery life.
3) Too many models in too short a time.

[OneSingleBreath]

They release a new camera every year, and every year it’s the same dilemma; buggy firmware, battery and overheating issues. It takes roughly half a year, and they start to get everything solved. But then a new cam is launched, and everything starts over again.
Plus, you‘re almost forced to a GoPro subscription, if you don’t want to pay a bunch of money more. I don’t like a behavior like that.

[iforced]

imo the main problem is they're overpriced. Over the years a huge number of alternatives have come onto the scene which are perhaps not quite as high quality but are perfectly good enough and cost less than half the price of a GoPro.

[JohnHansknecht]

I bought the DJI Osmo Action over the latest GoPro. Yes, the Osmo Action had a few glitches, but these have now been fixed with a firmware update. I have many friends with the latest GoPro and they are constantly losing footage due to problems with their camera shutting off or not writing properly to the SD card.

[longroth]

When the price rose from camera to "status symbol" level just because of the brand name, they lost their allure for me. Learning that my purchase was just supporting an over-extended lifestyle put them off my radar completely. Plenty of competitors in the market today with adequate quality at a fraction of the cost.

[SleeperAccord]

I own 2 GoPros. Both freeze if not updated weekly or monthly at the least. I phone will by my new cameras.

GoPro film quality is decent but you shouldn’t have to cancel a road trip to go back home and update a Camera.

[Joey-jkce]

Starting a company and keeping output consistently meeting consumer taste is very difficult. It's understandable.

[ariserusic]

I never have a GoPro but my uncle has one since he is an adventurous dude. It's one of the most durable cameras I have seen.

[JustBeAdude]

They designed a solid action camera. I still use my gen2 to this day and it records solid video action with zero issues. If they stick to the camera world, they will recover and drive on. It’s once you branch out into many realms and compete with other companies as well as have greedy share holders, that’s when issues begin to rise.

[birdman]

I've always thought one of their major problems was every year they sold so many different confusing models. At any given time, you could see 9 different GoPro models for sale on shelves in a store and you would have no idea which one to buy. And it was repeat year after year.

[motozest]

I've been saying this for years: GoPro thrived in spite of Nick, not because of him. The smartphone market made GoPros redundant in all but the most extreme environments. In those extreme environments GoPros are still better than most other action cameras (I've used them all). What they need is a larger sensor. Insta360 has a 1in sensor module, and the image quality, especially in low light, is miles ahead. The only problem with Insta360 is that they don't listen to their customers. I've told them many times they need to decrease the minimum focusing distance of their 1in module (90cm / 35in makes (moto)vlogging impossible) and they also need to streamline their software, but they don't care. If GoPro puts a 1in sensor on their cameras with a ~50cm (20in) minimum focusing distance - it's not that hard, some smartphones are already doing it - they'd have the perfect action camera that would also double as a great vlogging and family camera. That's the way to get back on top.

[filovirus]

sounds like he's was a greedy bro, focused on flexing but now learning. hope he matures well and become truly successful and maybe, willing to help others in need.

[RayMak]

Their technology is too easily replaceable... Software are a bit buggy. But financial management is most crucial.

[dorbie]

Product is solid, CEO is a muppet, taking that much salary from a business that can't support it is an abrogation of his fiduciary duty to shareholders. You can't invest in a company run by someone like that.

[SlayerHunt]

I love Nick for admitting his mistakes and taking responsibility for it! I hope Gopro recovers and makes a educated come back! :D

[ryufrank]

I loved my original GoPro Hero and Hero 2, and jumped to Hero 4 as soon as it was released. After that, GoPro started lacking behind the competition (at least camera features-wise).
Since then I switched to a Garmin Virb Ultra action cam, and noticed that it took GoPro 2-3 years to catch up with Garmin's features.
For a company with so much dedication to the action cameras' field, and aggressive marketing with annual models release. GoPro is definitely not a leader in the field anymore.
When the time comes to upgrade my action camera, GoPro's cameras are nowhere to be found in my shortlist.
They might carry all the features I need nowadays, but at that price point...FORGET IT!