It is being reported by the New York Post that action-camera maker GoPro has thus far had no success in finding offers for a possible sale. The company had hired JPMorgan to research such a deal.
An individual with what the Post termed “good knowledge of the sales process” reportedly told the paper that there were no potential buyers yet identified.
CEO Nick Woodman commented to Bloomberg News in February, “My job as CEO is to … create as big an opportunity for our investors as possible and … if we can achieve that more easily and more quickly with a partner, we would jump at the chance to have that opportunity.”
Last year, GoPro sold 4.3 million cameras, a 9.6 percent fall compared to the prior year, according to the Post.
The company likes to say that it “frees people to celebrate the moment, inspiring others to do the same. From cameras and drones to apps and accessories, everything we do is geared to help you capture life as you live it, share the experience and pass on the stoke. We believe that sharing our experiences makes them more meaningful and way more fun.
GoPro was founded in 2002 by Woodman, “a surfer, skier and motorsports enthusiast in search of a better way to film himself and his friends surfing,” its web site notes. “What started with a 35mm camera and a wrist strap made from old wetsuits and plastic scraps has grown into an international company that has sold over 26 million GoPro cameras in more than 100 countries.
“But it’s the millions of passionate GoPro users around the globe who bring the magic to life,” the company added. “They humble and inspire us every day with incredible creativity that helps us see the world in an all-new way—and fires us up to keep creating the most awesome, innovative products possible.”
Earlier this month, GoPro released a new feature for its cloud-based subscription service, PLUS, that will automatically offload photos and videos from your GoPro to the cloud via a mobile device. At $4.99 a month, the firm says in a release, GoPro PLUS features a “you break it, we’ll replace it” camera protection policy and provides users with unlimited photo and 35 hours of video storage in the cloud. “This new functionality will give GoPro PLUS users a true end-to-end experience, eliminating the need to remove SD cards or plug the GoPro into a computer to offload, edit and backup content.”
“This new functionality solves a pain point for our customers by giving them an easy way to offload and save their content in the cloud from their mobile device – no computer needed,” said Meghan Laffey, Vice President of Product at GoPro. “And with the content preserved in the PLUS cloud you can go out and keep capturing awesome new moments with your GoPro. This is just one of the cool new functions for PLUS that we will roll-out this year.”
GoPro recently enhanced its GoPro PLUS subscription service at the end of January and since then has seen nearly 20,000 new subscription signups. According to the company, the new mobile offload feature for PLUS is now available for iOS users via the GoPro App, with Android device compatibility “coming soon.”
By: Henry Rubinowitz