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
#2Just noting that based on the valuation of the company he is a billionaire, but GoPro is still a privately held business, so he [probably] doesn't have that sort of money on hand or available as short/safe investments.
There are rumors of a GoPro IPO early next spring though[1], so he may have the cash very soon.
[1]: http://www.businessweek.com/articles/2012-10-17/gopro-widens...
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#3Just noting that based on the valuation of the company he is a billionaire, but GoPro is still a privately held business, so he [probably] doesn't have that sort of money on hand or available as short/safe investments. There are rumors of a GoPro IPO early next spring though[1], so he may have the cash very soon. [1]: http://www.businessweek.com/articles/2012-10-17/gopro-widens...
Now that is an IPO I am looking forward to.
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#4Just noting that based on the valuation of the company he is a billionaire, but GoPro is still a privately held business, so he [probably] doesn't have that sort of money on hand or available as short/safe investments. There are rumors of a GoPro IPO early next spring though[1], so he may have the cash very soon. [1]: http://www.businessweek.com/articles/2012-10-17/gopro-widens...
Just noting that based on the valuation of the company he is a billionaire, but GoPro is still a privately held business, so he [probably] doesn't have that sort of money on hand or available as short/safe investments.
Kind of standard for most billionaires (or even millionaires) no?
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#5Just noting that based on the valuation of the company he is a billionaire, but GoPro is still a privately held business, so he [probably] doesn't have that sort of money on hand or available as short/safe investments. There are rumors of a GoPro IPO early next spring though[1], so he may have the cash very soon. [1]: http://www.businessweek.com/articles/2012-10-17/gopro-widens...
He was given $200MM for his stake, so I'd say he is set for life even not counting his 51%+ remaining stake.
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#6Just noting that based on the valuation of the company he is a billionaire, but GoPro is still a privately held business, so he [probably] doesn't have that sort of money on hand or available as short/safe investments. There are rumors of a GoPro IPO early next spring though[1], so he may have the cash very soon. [1]: http://www.businessweek.com/articles/2012-10-17/gopro-widens...
He was given $200MM for his stake, so I'd say he is set for life even not counting his 51%+ remaining stake.
The article doesn't get into details about the structure of the deal -- the $200M could be invested in the company (i.e., a dilutive event for shareholders), rather than a simple stock purchase. I'd guess that it's probably some mix of the two.
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#7[deleted]
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#8What 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?
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#9Digital 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.
Re: Foxconn Buys Stake In Camera Maker GoPro, Turning Founder Into A Billionaire
#10What 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?