I'm sure many of you have read about this, but for those who haven't it is well worth the time.
From Wikipedia about Woodman Labs (GoPro is a subsidiary):
The company was formed by Nick Woodman. Woodman said he was inspired to start the company following a 2002 Australia surfing trip in which he was hoping to capture quality action photos of his surfing, but could not because amateur photographers could not get close enough, or obtain quality equipment at accessible prices. His desire for a camera system that could capture the professional angles inspired the 'GoPro' name.
Woodman initially raised money for his company by selling bead and shell belts out of his VW van. Each belt sold for under $20. While making the belts he came upon the idea of providing a fashionable strap to attach a camera. At the time most straps were rubber wrist straps that were awkward, painful or easily broken.
In 2004 the company sold its first camera system—a 35 mm film version.
The cameras evolved, going from 35mm to digital, where it started recording 10 second clips, to 3 Megapixel digital cameras to its current configuration of having fixed lens cameras with a wide 170 degree angle in high definition 1080p cinema quality video. Two cameras can be connected to create 3D video.
The cameras have branched out from the surf crowd to be used by auto racing, skiing and bicycling as new adapters are created.
The parent company includes financing by several venture capital companies including Steamboat Ventures (affiliated with the Walt Disney Corporation), Riverwood Capital, Sageview Capital, Walden International, and U.S. Venture Partners.
On March 30, 2011, it acquired CineForm. In particular the acquisition brought the CineForm 444 Codec into its control. The codec (which was used in the film Slumdog Millionaire) according to the press release "makes HD and 3D editing faster and more convenient without sacrificing image quality." It was used to roll out the 3D HERO® System shortly after the acquisition.
About a month and a half ago Foxconn bought an 8.88% stake in the company for $200 million USD valuing Woodman's holdings at over $1 billion USD minimum. He is 36 years old.
This guy was a visual arts major at UC San Diego. He hustled sea shell belts in Cali and took out a $35,000 loan to start what is now GoPro. 10 years later he is a billionaire.
tldr: surfer bum started GoPro ten years ago with puka shell bullshit and a 35k loan, now he's got billions yo!
Do work bros.
From Wikipedia about Woodman Labs (GoPro is a subsidiary):
The company was formed by Nick Woodman. Woodman said he was inspired to start the company following a 2002 Australia surfing trip in which he was hoping to capture quality action photos of his surfing, but could not because amateur photographers could not get close enough, or obtain quality equipment at accessible prices. His desire for a camera system that could capture the professional angles inspired the 'GoPro' name.
Woodman initially raised money for his company by selling bead and shell belts out of his VW van. Each belt sold for under $20. While making the belts he came upon the idea of providing a fashionable strap to attach a camera. At the time most straps were rubber wrist straps that were awkward, painful or easily broken.
In 2004 the company sold its first camera system—a 35 mm film version.
The cameras evolved, going from 35mm to digital, where it started recording 10 second clips, to 3 Megapixel digital cameras to its current configuration of having fixed lens cameras with a wide 170 degree angle in high definition 1080p cinema quality video. Two cameras can be connected to create 3D video.
The cameras have branched out from the surf crowd to be used by auto racing, skiing and bicycling as new adapters are created.
The parent company includes financing by several venture capital companies including Steamboat Ventures (affiliated with the Walt Disney Corporation), Riverwood Capital, Sageview Capital, Walden International, and U.S. Venture Partners.
On March 30, 2011, it acquired CineForm. In particular the acquisition brought the CineForm 444 Codec into its control. The codec (which was used in the film Slumdog Millionaire) according to the press release "makes HD and 3D editing faster and more convenient without sacrificing image quality." It was used to roll out the 3D HERO® System shortly after the acquisition.
About a month and a half ago Foxconn bought an 8.88% stake in the company for $200 million USD valuing Woodman's holdings at over $1 billion USD minimum. He is 36 years old.
This guy was a visual arts major at UC San Diego. He hustled sea shell belts in Cali and took out a $35,000 loan to start what is now GoPro. 10 years later he is a billionaire.
tldr: surfer bum started GoPro ten years ago with puka shell bullshit and a 35k loan, now he's got billions yo!
Do work bros.
