GoPro

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GoPro
Type Public
Traded as NASDAQGPRO
Industry Electronics
Founders Nick Woodman
Headquarters San Mateo, California, USA
Area served Worldwide
Key people Nick Woodman (CEO)
Tony Bates (President)
Products Digital cameras
Subsidiaries CineForm
Website www.gopro.com

GoPro, Inc.[1] (formerly Woodman Labs, Inc) is an American corporation that develops, manufactures and markets high-definition personal cameras, often used in extreme action video photography. They are known for being compact, lightweight, rugged, wearable or mountable in unusual places such as outside a quadcopter, planes, cars, boats, bicycle and motorcycle helmets or army tanks. The cameras capture still photos and/or video in HD through a wide-angle lens and can be configured to work automatically with minimum intervention and/or remotely.

The company is based in San Mateo, California.

History[edit]

The company was founded by Nick Woodman in 2002. Woodman started the company following a 2002 surf trip to Indonesia 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.[2] His desire for a camera system that could capture the professional angles inspired the 'GoPro' name.[3][4]

Woodman initially raised money for his company by selling bead and shell belts out of his VW van. Each belt sold for under US$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 some reviewers found to be awkward, painful, or easily broken.[3][4]

In 2004, the company sold its first camera system—a 35 mm film version.[3] The cameras evolved through the years, going from 35mm to digital, where they started recording 10-second clips, to 3-megapixel digital cameras, to its current configuration of fixed-lens HD video cameras with a wide 170-degree angle. Today, two cameras or more can now be paired together to create 3D video.[3][5]

On June 4, 2014, the company announced the appointment of former Microsoft executive Tony Bates as President reporting directly to Nick Woodman.[6]

GoPro competitors include a variety of companies including Sony, Garmin, JVC, and more.

Corporate actions[edit]

On March 30, 2011, GoPro 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.[7][8]

In March 2013, GoPro issued a DMCA takedown notice to a site (Digitalrev.com) that had posted a review of its product, citing trademark use as a breach of copyright.[9] This notice was retracted 10 days later citing "erroneous enforcement".[10][11]

IPO[edit]

On February 7, 2014, GoPro submitted a confidential filing for an initial public offering (IPO) with the Securities and Exchange Commission (SEC).[12]

On May 19, 2014, GoPro formally filed its S-1 with the SEC. The number of shares or their price was not included in the documents. The company did state that they hope to raise at least $100 million through the sale of shares, using that money to pay off in full a debt valued at $111 million as of March 31, 2014. They also said that "it may use a portion of the net proceeds to acquire or invest in complementary businesses, technologies or assets." They stated that they plan to list on the NASDAQ using the symbol 'GPRO.'[13]

On June 25, 2014, GoPro sold 17.8 million shares to initial investors at $24 per share, which was at the high end of the expected price range of $21 to $24 a share.[14] 1.5 percent of those shares were allotted to LOYAL3, a technology platform that democratizes the investing process,[15] to allow small investors to participate.[16]

On June 26, 2014, the company raised $427 million on its first day as a publicly traded company. At the IPO price the company is valued at $2.95 billion.[13]

Products[edit]

HERO cameras[edit]

Woodman worked on his first camera for two years after founding the company, eventually debuting the GoPro 35mm Hero in September 2004 at San Diego's Action Sports Retailer trade show.[17] At the end of its debut year, GoPro sold $150,000 worth of product.[17] By 2006, the company had moved on from the 35 mm camera and introduced its first Digital HERO. With 10 second video capabilities, the camera garnered greater interest with the new product helping the company generate $800,000 in revenue. The following year GoPro saw sales quadruple to $3.4 million.[17]

In 2014, the company features three cameras for sale, HERO3+ Black Edition, HERO3+ Silver Edition and HERO3+ White Edition. The HERO3+ includes a new “SuperView” mode, allowing the user to shoot a wider, 16:9 aspect ratio for full screen playback.[18]

GoPro has steadily increased performance in their HD lineup of cameras including the HD HERO that shoots in 1080p with a 5MP sensor all the way to the HERO3+ Black Edition that can capture 4K video content and 12MP photos.[18][19]

Accessories[edit]

GoPro has gone on to create a variety of accessories complementing the camera and the user's ability to capture footage. These include the 3-way, a versatile mount for multiple use cases, and the Suction Cup Mount, Chest Harness Mount and the Jaws: Flex Clamp.[20]

Video Editing[edit]

The company created GoPro Studio to allow users to edit their footage.[21] GoPro Studio is a video editing suite that is essentially a simplified editing program designed to help users create personal highlight reels easier.[21] In September 2013, GoPro introduced Studio 2.0 which included enhanced features to increase the user ability to edit content. GoPro's desire to enhance the editing process relates to its aim to grow as a content company.[22]

Media Company[edit]

In April 2014, GoPro was named one of the “Top 10 Best Brand Channels on YouTube” based on a combination of views, shares, comments and overall engagement.[23] GoPro's popularity is linked to the unique content uploaded on a daily basis which the company sees as an additional revenue driver – wanting to transform from a strictly hardware operation to an eventual content company.[24]

A key driver behind GoPro's decision to go public was the revenue potential it foresees to be tied to the content its cameras help creates. The eventual transformation into a media company is part of the company's attempt to diversify its revenue stream.[25] As part of this transformation, in 2014 GoPro created additional channels with GoPro content on YouTube, Virgin America and Xbox Live.[25]

HD HERO cameras[edit]

GoPro sells three fixed-lens cameras, all without viewfinders. A 2-bit LCD on the front of the camera allows access to its menu system, which is controlled with the front and top shutter buttons. The cameras have dimensions of 1.6” x 2.4” x 1.2” (42mm x 60mm x 30mm) (HERO2). The range for capturing still images is 5 to 12 megapixels. The cameras are bundled with a clear polycarbonate HD Housing (with glass lens) that is rated shockproof and waterproof to 180 ft/60 meters. The housing consists of a quick-release buckle on the top and threads at the bottom which can be used with a special screw to connect to all of the GoPro mounts. The housing has metal buttons which are synched to connect to the camera's controls. The housing has a "skeleton" backdoor option to allow better capture of audio in situations where it is not necessary for the camera to be water tight or shock proof (but wishing to take advantage of the mounts)[26]

In addition to the usual camera features, the cameras also include an upside down mode to make the photo/video appear upright when played; interval shooting of every 2, 5, 10, 30 or 60 seconds allowing the camera to continuously shoot unattended; 3 photo burst; and self-timer. The camera spec sheet notes they have a proprietary 1050 mAh lithium-ion battery (HERO3), Aperture: f/2.8, and rated >1.4 V/lux-sec in video mode.

Products[edit]

This list is sorted 'newest first'.

HERO4[edit]

In September 2014, GoPro announced the HERO4, available in Black Edition and Silver Edition, which replaced their respective Hero3 and Hero3+ generation predecessors. Furthermore a low-end budget version camera, simply called The Hero was also announced. The HERO4 has 4K video recording at 30 fps, 2.7K at 50 fps and 1080p Full HD at 120 fps.[27]

HERO3+[edit]

In October 2013, GoPro released the HERO3+, available in Black Edition and Silver Edition, which replaced their respective Hero3 generation predecessors. The Hero3 White Edition remains as GoPro's low-end device.

Both Hero3+ camera models have "dramatically improved" low light performance, and a new waterproof enclosure which is lighter and smaller than the HERO3 (20% and 15% respectively, according to the GoPro website - the Hero3+ camera itself has a 20% decrease in size compared to the Hero3) and are also claimed to have improvements in image sharpness (close focus down to 7" vs about 3 ft on the Hero3, at the expense of distant focus which is slightly less sharp with Hero3+), and better audio functionality to include wind noise reduction. Battery runtime improvement is claimed to be 30% compared to the respective Hero3 model (both through better efficiency and a higher capacity battery in the same size).[28][29]

The Black Edition[30] has video modes of 1440p48, 1080p60, 960p100 and 720p120 as well as 4Kp15 and 2.7Kp30 and can shoot 12MP stills at up to 30 frames per second. Along with the increased resolution, the HERO3+ Black Edition also features a function in firmware (called "SuperView") which additionally increases the field of view, and its activation is optional. It has additional "enterprise" functions, such as dynamic low light situation adjustment, professional recording modes (higher bitrates, no white balance applied, etc.) etc. The Black Edition continues to include a Wifi Remote. The Black Edition does not have the ability to record 25/30 FPS in 720p and WVGA modes (it can only record at very fast framerates in those lower resolutions). This is a deliberate firmware limitation, as the manufacturer does not expect this high-end product to be used for recording in such "low" resolutions with so "low" framerates. The battery runtime of Hero3+ Black Edition, although significantly longer than Hero3 Black Edition, is still around 30-50% lower than the battery runtime of Hero2 and Hero1, which are two and three generations older, respectively.

The Silver Edition[31] has video modes of 1080p60 and 720p120 and can shoot 10MP stills at up to 10 frames per second. In contrast to the Black Edition, the Silver Edition can record at 25/30 FPS (or higher) in all supported resolutions. Hero3+ Silver Edition also has about 25%-50% longer battery runtime during recording than Hero3+ Black Edition (they both use the same batteries).[29] The difference in runtime depends on the resolution/FPS combination, and whether WiFi and GoPro mobile application are used during recording. The difference in runtime increases as the FPS is lowered and the additional functions are deactivated on both cameras. The battery runtime of Hero3+ Silver Edition is similar to the battery runtime of Hero2 and Hero1.

The Hero3 High Definition camera was awarded the 2013 Technology and Engineering Emmy award for its contribution to television.[32]

HERO3[edit]

In late 2012, GoPro announced the Hero 3 line of cameras. These new cameras came in three editions: Black, Silver, and White.

All three versions of the Hero3 come in a new 30% smaller and 25% lighter package, with WiFi functionality built in. The change of the physical dimensions of the cameras compared to the previous generations (Hero1 and Hero 2 were physically identical) means that some of the camera accessories for Hero1 and Hero2 are not compatible with Hero3, so GoPro made new versions of those accessories specifically for Hero3 (and mostly for Hero3+, see above). Those new versions of accessories are usually not compatible with older Hero camera generations. However, a lot of other accessories are compatible with all HD Hero camera generations.

One notable disadvantage of Hero3 Silver and Black cameras (compared to Hero1 and Hero2 cameras) is significantly shorter battery runtimes.[28] For example, in 720p resolution with 25/30 FPS, while Hero1 and Hero2 have a stated battery runtime of 3 hours, Hero3 Silver Edition has a stated battery runtime of 2 hours, while Hero3 Black Edition has a stated battery runtime of only 1.5 hours (the Black Edition's "most economical" setting is 1080p/30 FPS, so this also partially contributes to its poor battery runtime).

The Black Edition[33] features a new 12 MP sensor that is capable of capturing 4K digital video at 15 fps, 2.7K video at 30 fps, 1440p at 48 fps, 1080p at 60fps, 960p at 100fps, 720p at 120 fps and WVGA at 240 fps. The Black edition also includes the WiFi Remote. The Black Edition can not record at 25/30 FPS in 720p and WVGA resolutions . It can record only at very fast framerates in those resolutions. This is a deliberate firmware limitation, as the manufacturer does not expect that this high-end camera model will be used in such "low" resolutions with so "low" frame rates.

The Silver Edition uses the same 11 MP sensor as the Hero2.

The White edition uses the same 5 MP sensor as the HD Hero1.

HD HERO2[edit]

The HD HERO2 was launched on October 24, 2011. It has an 11 MP image sensor, improved low-light capability and records at up to 120 frames per second.[34] It was sold with three different accessory packages: Outdoor Edition, Motorsports Edition, and Surf Edition.[35]

HD HERO[edit]

The HD HERO Naked, released with a range of accessories, shoots a maximum of 1080p video on its 5Mp sensor.[36] The Naked camera line forms the basis for other bundles which are differentiated by the types of mounts they have (HD Helmet HERO, HD Motorsports HERO, HD Surf HERO). It was first listed on January 25, 2010.

Specifications[edit]

  • Sensor size : 1/2.5-inch - 5.75 × 4.28 mm
  • Pixel size : 2.2 μm
  • Image format :
Mode Size fps FOV
R1 848 × 480 60 170°
R2 1280 × 720 30 170°
R3 1280 × 720 60 170°
R4 1280 × 960 30 170°
R5 1920 × 1080 30 127°
Photo 2592 × 1944 0 170°

HD HERO 960[edit]

HD HERO 960 - shoots a maximum of 960p video and is not compatible with GoPro's electronic accessories although the camera is compatible with all GoPro mounts. It was first listed on August 6, 2010

Digital HERO 5[edit]

The Digital HERO 5 (first introduced on December 5, 2008) had a 5-megapixel still photo sensor, and supported standard definition (512x384) video capture. It ran on two AAA batteries, had 16 MB of internal memory, and could function with a 2 GB SD card. It was the first GoPro HERO camera to use a 170° angle of view, ultra-wide lens.[37] Its housing was aggressively—and extraordinarily—rated to 100 ft/30 meters depth. Its dimensions were 2.6 x 1.75 x 1.25 inches (66.04 x 44.45 x 31.75mm). The camera is not designed to work with the newer HD HERO line of housings, although the standard screw mounts are indeed compatible.[38]

Digital HERO 3[edit]

The Digital HERO 3 released in 2007 had a 3-megapixel camera and shot standard definition 512 × 384 video. It was rated up to 30 meters (98.4 feet) in depth.[39]

GoPro HERO 35mm, All-Season Sports Camera[edit]

The 35mm camera (model #001) became available on April 13, 2005. It had dimensions of 2.5 by 3 inches (64 by 76 mm) and weighed 0.45 pounds (200 g). It included the camera, a clear case with quick release, a camera strap, and ski glove adapter lash. It could pivot "on the fly" and was functional to a depth in water of about 15 feet (5 m). It was described as a "reusable wrist camera" and included a roll of 24 exposure Kodak 400 film.[40]

Competitors[edit]

dogcam[edit]

Built to go where other cameras can't, small, discrete and built to Formula 1 standards. 1080p video quality and excellent under high vibrational settings, this camera is built to withstand the toughest environments.

Hedcam[edit]

Due to their size, the Hedcam 7Twenty and Ten80 are serious competitors to the GoPro Cameras. Although they do not have the features of the GoPro, they are extremely small and weigh less that 39grams. The Hedcam is very popular for sports where having a large camera mounted to you may impede on performance.

Sony[edit]

In August 2012, Sony launched the Sony Action Cam HDR-AS10 and HDR-AS15 cameras which relatively compete with GoPro's HD Hero2 model. Sony's cameras have 16.8 MP and the HDR-AS15 has built-in WiFi.[41] In September 2013,[42] Sony launched the HDR-AS30V which is smaller and lighter camera than the previous Sony AS-15. It's compatible with Sony's Smart Watch and has GPS and NFC.

Garmin[edit]

A year after Sony's product launch, GPS device-maker Garmin launched its VIRB line of GPS equipped 1080p waterproof cameras to compete with GoPro.[43]

Others[edit]

Other popular action cams include JVC GC-XA2, Drift HD Ghost S, Polaroid XS7, MHD Sport Wi-Fi Action Camera, and Contour+2, Liquid Image Ego, The Neo Sport Camera and the Veho muvi action cameras.

References[edit]

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  2. ^ Mac, Ryan (4 Mar 2013). "The Mad Billionaire Behind GoPro: The World’s Hottest Camera Company". Forbes. 
  3. ^ a b c d "GoPro with Founder/Inventor Nick Woodman". Malakye.com. 5 Jan 2010. Retrieved 27 Jul 2011. 
  4. ^ a b Burrows, Peter. "GoPro’s Incredible Small, Durable Camcorder". BusinessWeek. Retrieved 27 Jul 2011. 
  5. ^ Williams, Owen (5 Apr 2014). "This 360 video shot with 6 GoPro cameras will blow your mind". The Next Web. Retrieved 23 Jul 2014. 
  6. ^ GoPro (4 Jun 2014). "GoPro Appoints Tony Bates as President And Member of the Board of Directors". Retrieved 4 Jun 2014. 
  7. ^ "GoPro®, Leading Activity Image Capture Company, Acquires Award Winning Video Compression Software Company, CineForm®, Inc". Gopro.com. 30 Mar 2011. Retrieved 1 Aug 2011. 
  8. ^ Author Tony Reale, Mar 30th, 2011 (30 Mar 2011). "GoPro, sports camera manufacturer acquires CineForm, video compression software company". NextWaveDV. Retrieved 1 Aug 2011. 
  9. ^ "GO*RO H*ro 3 vs SONY HDR-AS15 - Which Action Camera should you get?". 
  10. ^ "GoPro doesn’t like their Hero 3 compared to Sony’s AS15?". 
  11. ^ "A lesson from GoPro: Don’t mess with Reddit". 
  12. ^ Demos, Tells; Sherr, Ian (7 Feb 2014). "GoPro Files for IPO Confidentially". Wall Street Journal. 
  13. ^ a b Leslie Picker (26 Jun 2014). "GoPro Raises $427 Million, Pricing IPO at Top of Marketed Range". Bloomberg. Retrieved 26 Jun 2014. 
  14. ^ Krantz, Matt (25 Feb 2014). "GoPro IPO prices at $24, set to trade Thursday". USA Today Money. 
  15. ^ "Loyal3". 
  16. ^ Calvey, Mark (2014-07-03). "GoPro's IPO access for small investors sparks familiar lament". San Francisco Business Times. 
  17. ^ a b c "The Early Years of GoPro and Founder Nicholas Woodman". Forbes. 
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  19. ^ Hughes, Neil (27 Nov 2013). "Review: Using the GoPro Hero3+ Black Edition camera with Apple's iPhone". Apple Insider. Retrieved 5 Aug 2014. 
  20. ^ Jennings, Ali (26 Dec 2013). "Top 10 GoPro Accessories". TechRadar. 
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  27. ^ James Trew. "GoPro's Hero4 cameras offer 30 fps 4K shooting or touchscreen controls". Retrieved September 29, 2014. 
  28. ^ a b http://gopro.com/support/articles/hero3-battery-life
  29. ^ a b http://gopro.com/support/articles/hero3plus-camera-battery-life
  30. ^ HERO3+ Black
  31. ^ HERO3+ Silver
  32. ^ Nick Kelley. "GoPro Wins an Emmy", Outside, January 15, 2014
  33. ^ GoPro Hero 3 Black Edition review by InsideHardware.it http://www.insidehardware.it/fotografia/sportcam/3005-gopro-hero-3-black-edition-seconda-solo-a-se-stessa/
  34. ^ GoPro Product Comparison http://gopro.com/product-comparison-hd-hero2-hd-hero-cameras/
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  36. ^ "GoPro 3D HERO System - World's Smallest 1080p 3D camera". Gopro.com. Retrieved 2011-08-01. 
  37. ^ "FAQ: SD HERO Cameras". Gopro.com. Retrieved 2013-07-10. 
  38. ^ [1][dead link]
  39. ^ "GoPro Digital HERO 3 Sports Wrist Camera Specs - Digital Camcorders - CNET Reviews". Reviews.cnet.com. Retrieved 2013-07-10. 
  40. ^ "History of the GoPro". Gopro-comparison.com. Retrieved 2014-08-21. 
  41. ^ "Sony treads on GoPro’s turf with WiFi-capable Action Cam series". August 30, 2012. 
  42. ^ "Sony takes thrills to the next level and expands cam lineup of premium point-of-view video capture devices". September 4, 2013. 
  43. ^ Pachal, Peter. "Garmin Takes On GoPro With the VIRB Waterproof Action Camera." Mashable, 20 August 2013 accessed online at http://mashable.com/2013/08/20/garmin-virb/

External links[edit]