Now that news has been flurrying around GoPro’s potential demise, let’s take a look back on how they started and what got them into this mess.
I’ve been following GoPro’s business woes for quite a while, and there came a point in which DJI was clearly going from underdog to a serious competitor. After the recall of GoPro's Karma Drone, I realized that DJI’s potential stock market value was far greater than GoPro’s stock value at the time. The numbers weren’t looking good, and since that story, GoPro has announced layoffs and its departure from the drone business.
How did all of this happen, though? Tom Ellsworth, known as “The Biz Doc” on the YouTube channel, Valuetainment, brings us through the timeline. His case study is a short and sweet guide in what happened on a macro level. Ellsworth glosses over the golden years (where they nearly hit that $10-billion mark) and gets right into the nitty-gritty.
For example, did you know that the first GoPro used 35mm film? That's quite a far cry from the 4K digital video footage technology we’re used to seeing today. It’s pretty neat seeing GoPro’s early days climb into a huge fandom-crazed, multi-billion dollar business. Remember when the company won an Emmy?
There are certain points that I’m not sure I agree with, though. Ellsworth gets hung up on two Superbowl advertisements in 2014 and 2015, saying that this cash should have been spent on the product. That’s all well and good, but while that was happening, the iPhone 6s was released and sported 4K video features (which he mentions). Perhaps the downfall of GoPro is due to consumers having realized they weren't extreme sports enthusiasts or casual surfers – that their footage didn't look half as interesting as GoPro told them it would.