Foxconn Investment Turns GoPro Camera Inventor Into A Billionaire

By Khurram Aziz email: k.aziz@mobilenapps.com | Dec 24, 2012 01:00 PM EST

Share This Story

  • Print
  • Email

Taiwanese electronics manufacturer Foxconn has bought an 8.88% stake in Woodman Labs for $200 million - an investment which values the company behind the GoPro camera at $2.25 billion, according to Forbes.

Follow us

Nicholas Woodman, who created GoPro, owns a majority stake in Woodman Labs, which at a minimum 51% stake puts his net worth at least $1.15 billion, said 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 told Forbes.

Woodman, 36, was an avid surfer when he created the GoPro camera in 2004, which he designed to strap on to the end of his surf board and take high quality pictures of him in action.

The camera has since developed to record full HD 1080p video and has become the default camera for filming extreme sports such as skiing and skydiving.

Foxconn announced its investment in a company press release.

"I saw a great opportunity in investing in GoPro, not only the company's product lines but also the man who is running the company," said Foxconn CEO Terry Gou. "The first time I saw Nick Woodman, I immediately knew he was an outstanding entrepreneur who has the caliber to be very successful in this business. And together with Foxconn, the outlook of this company is even brighter as we commit to helping it achieve its fullest potential."

Foxconn is most well-known for manufacturing devices such as the iPhone, iPad, PlayStation and Xbox. The investment in GoPro means that the Taiwanese firm will now have a seat on Woodman Labs' board.

Get the Most Popular Mobile&Apps Stories in a Weekly Newsletter

Join Our Conversation

Smartphones
Amazon Fire Phone $199 unlocked Amazon Fire Phone 32GB unlocked now just $199, includes one-year Prime membership
Sony Xperia Z4, Xperia Z4 Ultra to debut at CES 2015: Leaked specs
Moto X (2014) Cyber Monday deal: $0.01 on-contract with Verizon, $359 unlocked, 30% off accessories
Verizon-bound Motorola Droid Turbo gets blue color option on Best Buy
Tablet / Laptop / PC
Dell Venue 7 and Venue 8 Dell unveils Venue 7 and Venue 8 Android 4.3 Jelly Bean tablets
Retina iPad Mini facing delays, may not launch until early next year
Refurbished 128GB iPad with Retina Display now available on the Apple Online Store
Samsung Galaxy Note 10.1 – 2014 Edition: Pricing and availability now official
Gadgets
Amazon Logo Amazon reportedly to launch ‘Firetube’ set-top box before 2013 holidays
Samsung Galaxy Note 3 and Galaxy Gear India launch: Pricing and availability
Samsung Galaxy Gear Android smartwatch now up for pre-order in Canada
Samsung Galaxy Gear 2 reportedly in the works already, may debut at CES or MWC 2014
OS / Software
HTC Logo HTC reportedly considering Android/Windows Phone dual-booting smartphone as Microsoft pushes for deeper Windows mobile integration
iOS 7 Chrome Incognito mode leaks private searches due to bug
Sprint HTC One Android 4.3 Jelly Bean already rolling out, AT&T, T-Mobile & Verizon to follow
Microsoft Windows 8.1 now available for pre-order
Internet / Social Media
Google Downtime Google blacks out for two minutes, causes 40 percent drop in world’s Internet traffic
Xbox Music web player is live and ready for Xbox Music Pass subscribers
Facebook Android app collected phone numbers even if users never logged in
Firefox 22 brings support for web video calls, 3D gaming, and Unreal Engine 3
What's App
Flipboard for Windows Phone Flipboard for Windows Phone finally available, but requires 1GB of RAM (VIDEO)
Vine gets major update, lets you upload previously-shot videos & more (VIDEO)
BlackBerry Messenger (BBM) finally hits Windows Phone – Available as a free download now
Instagram releases Bolt ephemeral messaging app in select markets to challenge Snapchat
Copyright © 2014 Mobile & Apps All rights reserved. mobilenapps
Real Time Analytics