Solved a real problem for adventure enthusiasts: capturing action footage without professional gear. Perfect timing with YouTube's rise created free viral marketing as users shared their GoPro videos. Hit nearly $1B revenue by 2013 while staying profitable.
Smartphones evolved to include 4K video and image stabilization, eliminating the need for casual users. Cheap Chinese knockoffs at one-third the price attacked from below. GoPro responded too late with the confusing Hero4 Session priced at $399—same as the full model—alienating retailers and customers for the first time.
Stock under $1, valued at less than $200M despite $1B+ in sales. Lost over half its market share, down from 70% to below 30%. Burned $100M cash in 2024. A shadow losing money.
