Foxconn Buys Stake In Camera Maker GoPro, Invests $200 Million
GoPro cameras are small and extremely portable cameras capable of recording in high-definition. They can be strapped or attached to just about anything - helmets, bikes' handlebars, sides of cars, etc. - and as such, they are especially popular amongst athletes and sports personalities. Most recently, Felix Baumgartner had several GoPro cameras strapped to his suit as he made record-breaking supersonic free-fall in October.
Their popularity has led Foxconn to invest $200 million in a 8.88% in Woodman Labs, the company that makes GoPro cameras. This means Woodman Labs has a valuation of about $2.25 billion.
Of the deal, Woodman Labs founder, Nicholas Woodman has this to say to Forbes:
“GoPro and Foxconn share a vision of the future where content capture, creation and sharing will become an increasingly important form of communication,” Woodman said.
Since its inception in 2004, GoPro has grown at a tremendous pace and now has a 32% share of the pocket camcorder market.