The acquisition included the CineForm 444 video codec used in the film Slumdog Millionaire. On March 30, 2011, GoPro acquired CineForm.

īecause of the COVID-19 pandemic in 2020, GoPro laid off more than 20 percent of its workforce - over 200 employees. Īt its peak, a share of GoPro was valued at $86, but on March 26, 2018, only $4.81. 270 more employees were laid off in March 2017, and 250 additional layoffs followed in January 2018, bringing the company's workforce to 'just under 1,000'. The company also announced that President Tony Bates would be stepping down at the end of 2016. In November 2016, the company announced it was laying off an additional 200 employees in an effort to reduce costs. In July 2016 GoPro revealed they had been acquiring expertise from three French technology firms over the previous 18 months. Īfter growing the number of employees by more than 500 in 2015, the company responded to weak sales in the fourth quarter by cutting about 7% of its workforce (100 workers) in January 2016. In January 2016, GoPro partnered with Periscope for live streaming. On June 4, 2014, the company announced the appointment of former Microsoft executive Tony Bates as president reporting directly to Woodman. As of 2014, a fixed-lens HD video camera with a wide 170-degree lens was available two or more can be paired to create 360 video. Digital still and video cameras were later introduced. In 2004, the company sold its first camera system, which used 35 mm film.

He also received over $230,000 from his parents to invest in the business. Woodman raised a portion of his initial capital by selling bead and shell belts for under US$20 from his VW van and, later, fashionable camera straps.

The camera range was branded 'Hero' as their aim was to capture close-up action shots that made the subject look like a hero. The 'GoPro' name came about as Woodman and his surfing friends all aspired to become professional surfers as 'going pro' was the ultimate goal and the only way to be filmed on the water at that time.

He was motivated by a 2002 surfing trip to Australia in which he was hoping to capture high quality action photos, but could not because amateur photographers could not get close enough or buy appropriate quality equipment at reasonable prices. The company was founded by Nick Woodman in 2002. The first GoPro Hero, a film camera encased in a waterproof shell.

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