GoPro (GPRO) founder and CEO Nick Woodman said Tuesday his company is growing its ecosystem, defending market share and partnering with top tech companies to deliver new services to consumers. Woodman said a drone opens up a perspective for our world that we have never seen before.
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Although some analysts think Apple could be an acquirer of GoPro, Vertical Group, an independent research firm mentioned in the Barron’s report, said Apple has “ample resources to build the product in-house”. The company did not comment to Barron’s on its report. He noted that it was released out of cycle and said expectations that it would instantly become a top seller were unreasonable. The company’s sturdy fundamentals together with increasing investor confidence (highlighted by decreasing short interest levels) also make a case for a potential acquisition. Woodman compared the GoPro of today to the iPod without iTunes.
GoPro shares fell more than 4% to start the week. GoPro videos are already doing incredibly well on Instagram. But the company knows that the crowd sometimes wants to see more than just a 10-20 second clip.
“We’re in the process of building out a cloud-based solution to do that – it’s taking longer than we expected”, Woodman said. The feature will let users offload their content on to the cloud after hours of recording.
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GoPro has introduced a new program aimed at helping promote social causes in order to engage and inspire people to participate. This platform is designed for nonprofit organizations. You need a healthy enthusiasm for all your great ideas and be impatient as hell to bring them to reality. “You can never say ‘we made it.’ That’s when you get hit by the competitor trucks”, Woodman said.
