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Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

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Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

#11
post #10
post #8

What prevents a serious camera company like Nikon or Canon from rolling and and owning this market? Is a couple $bn not enough to get them out of bed in the morning?

They never took it seriously to begin with, and now that its clear that this is a serious market, they're too late. I wouldn't put it past them to invest additionally in GoPro (or some competitor). Separately - who are GoPro's competitors?

In some sense, Pivothead [1], but the quality of the video is considerably lower.

[1] http://pivothead.com/products/eyewear/recon/black-jet

Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

#12
post #10
post #8

What prevents a serious camera company like Nikon or Canon from rolling and and owning this market? Is a couple $bn not enough to get them out of bed in the morning?

They never took it seriously to begin with, and now that its clear that this is a serious market, they're too late. I wouldn't put it past them to invest additionally in GoPro (or some competitor). Separately - who are GoPro's competitors?

Agreed.

A competitor is Conture. Search devinsupertramp on YouTube to see a few videos they have sponsored him to make with the cameras. I think one is of a blob.

Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

#15

Digital consumer video cameras predated GoPro by more than a decade, and the market was split between electronics giants. You wouldn't bet on a billion dollar company emerging from nowhere in THAT market, would you? But, apparently, when you build a great brand, find a solid niche and make something consumers WANT to buy - as opposed to need to buy - great things can happen.

The GoPro for extreme sports is way above any digital consumer video camera, add to that a good price point and you get a winner. Congrats to them.

Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

#16
post #10
post #8

What prevents a serious camera company like Nikon or Canon from rolling and and owning this market? Is a couple $bn not enough to get them out of bed in the morning?

They never took it seriously to begin with, and now that its clear that this is a serious market, they're too late. I wouldn't put it past them to invest additionally in GoPro (or some competitor). Separately - who are GoPro's competitors?

There are plenty, but none matches the video quality/rugged-nes/price/ergonomics combination that the GoPro offers.

Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

#17
post #8

What prevents a serious camera company like Nikon or Canon from rolling and and owning this market? Is a couple $bn not enough to get them out of bed in the morning?

They never saw the market. They didn't even know it existed.

Woodman is a surfer—the market was right in front of him. He saw a need, and he solved it with a very simple, high quality device tailored to that specific need.

A better argument there has never been for solving real problems with real solutions, rather than trying to essentially trick people into believing they both have a problem and need a solution. The latter is possible, but the former is a far better path to success.

Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

#18
post #10
post #8

What prevents a serious camera company like Nikon or Canon from rolling and and owning this market? Is a couple $bn not enough to get them out of bed in the morning?

They never took it seriously to begin with, and now that its clear that this is a serious market, they're too late. I wouldn't put it past them to invest additionally in GoPro (or some competitor). Separately - who are GoPro's competitors?

There are tons of GoPro competitors:

Contour Contour+2, ContourRoam

Sony Action Cam (HDR-AS10 and HDR-AS15)

Polaroid XS7, XS20 and XS100

CamOne (camonetec.com)

AEE BlackEye XTR (Magicam SD21) (www.aee.com/en/)

Tachyon (tachyoninc.com)

UnmannedTech FPV HD camera

Tons of unknown asian brands like 808 #16 720p micro camera ($8 to $40).

Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire

#19
pg says that founders should be relentlessly resourceful. Well GoPro founder Nick Woodman is definitely resourceful: he raised initial capital ($30k) partially by selling bead-and-shell necklaces! http://www.businessweek.com/magazine/gopros-incredible-small...
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