The 2004 founded company, GoPro, recently revealed its IPO plans to sell 17.8-million shares of its stock between $21 and $24 per share.
Founder and CEO, Nick Woodman also explains the company’s ambition of not only being focused on hardware but becoming a comprehensive media-company as well. Media you say? Sure, the videos made by the company's customers already have massive reach thanks to the huge volumes posted on social media services.
"In 2013, our customers uploaded to YouTube approximately 2.8 years worth of video featuring 'GoPro' in the title. Also on YouTube, in the first quarter of 2014, there was an average of 6,000 daily uploads and more than 1.0 billion views representing over 50.0 million watched hours of videos with 'GoPro' in the title, filename, tags or description," the company states in the IPO filing.
Well, that makes sense if you knew about the company's 20-person department that is devoted to shaping and redistributing user-generated content. Every day they upload a “Video of the Day,” which may be from an athlete or from an ordinary user. They even have a dedicated person who scours the web for potential videos to ask permission to edit and distribute. Anyone else seeing cheap ad? The video creator normally gets a free product of some sorts for his/her efforts, and it just goes to show you how GoPro is focusing on the experiences captured instead of only focusing on the product.
The ambition of becoming a media company is even more believable after the company announced the Xbox OneGuide channel featuring GoPro videos. The channel, a pilot version of which is already available on Virgin America flights, will feature curated content, and users will be able to purchase GoPro products directly online. “GoPro is a content-driven company,” CEO and founder Nick Woodman declared at the time.
As the Xbox channel evolves, perhaps into a mainstream channel, one might expect to see more of these longer-form stories, even mini-documentaries, and fewer one-minute action shots. At some point, the longer pieces could generate far more advertising revenue than YouTube clips. Says Jeff Brown, GoPro’s vice president for communications: “I feel like I’m working at MTV in the ’80s.”
Check out a good example of where GoPro will be taking its content - in the form of short films and documentaries (it's over 12 minutes long though, but well worth it). It's not suitable for sensitive viewers and the video will be take you into the seat of the driver when crashing. It's amazing what a GoPro camera can capture when used in all the right spots!
"When I woke up on the day of the jump I told my wife I had a bad feeling," James Kirkam.