Critical EVA
As an Educational Venture Analyst, I believe that the GoPro product has huge potential in the viability of its use in learning technology markets; however, in order to continue being the leader, GoPro is going to have to look at adding current camera technologies that most current cameras employ, adjust price point for accessibility to reach more buyers, and begin to look at software development that would lead to being the industry standard for capturing point of view video.
GoPro is the inventor and dominator of the point-of-view camera market. The company’s ability to create an original design, combined with a video recorder, allows people to document and share aspects of lives in ways the world has not seen before. The introduction of GoPro cameras into educational environments will provide educators and students with the powerful tool of using video for daily learning. One of the key reasons for GoPro’s ability to stand out from other competitors is the success of the mount accessories that allow the camera to be placed in places that cameras have normally not been.
CEO Nick Woodman attributes part of GoPro’s success in reaching their buying audience to their aggressive marketing and heavy social media strategy. GoPro also became popular at a time when smartphones were causing digital camcorders and cameras to become obsolete. Woodman is of the opinion that people are not spending money on these two devices, so they now have money to purchase something like a GoPro, which differs from a smart phone. A major barrier in the marketing of the device is in the element of the promotion in the education field. Currently, there is a program called the 360Heros Education Program, which helps students receive discounts in order to promote their work and development of a video project. The discount is not for the device, but applies to a holder and software. Due to the high cost of the GoPro, and not a significant educational discount for the device itself, I see a major gap with promotion and accessibility in the education field. A lot of educators who are currently are using GoPro in educational settings are using their own personal devices. A real challenger who comes up with a similar device for a lot less money will cause great disruption to the sales of this company. More work has to be done in the area of marketing and promotion with regards to educational superintendents, who are considering technology initiatives to invest in, corporate trainers, and college and trades programs that are looking to invest in technology to enhance their programs.
In 2012, the Chinese company Foxconn, which manufactures iPhones and iPads, invested 200 million dollars into GoPro, giving them a 9% stake of the company and putting the value of GoPro at 2.25 billion dollars. In June 2014, GoPro went public, trading on the Nasdaq with the symbol “GPRO.” Initial shares began at $24 (USD) per share and the stock surged over 55%, with shares currently selling at over $38 (USD). The success of GoPro’s Initial Public Offering (IPO) is clear indicator of investor confidence, based on the success of the product and the brand built by the company.
As an Educational Venture Analyst, I have to say that GoPro is a leader in the point-of-view camera market as it is not only the innovator of this product, but also a company that is looking ahead in terms of investment and ways to stay ahead of competitors. The real value of the GoPro in terms of the educational field is the ability for educators and students to use their own open-end creativity with capturing not only the world around them, but also changing how we learn. I would recommend marketing the product to people in positions such as a superintendent and learning & training institution directors, because they are the individuals who would identify and purchase technology initiatives, such as GoPRo, for their organizations. Until a lower cost unit is made, this will be continue to be the market that GoPro has to push for. As time goes on, I would like to see GoPro develop more software-based products, given the rise of the mobile market and the rise of different mobile attachments that allow users to use their smartphone to capture video. Overall, the success and recent IPO position of GoPro are all indicators of a great company to invest in for the future.
GoPro is the inventor and dominator of the point-of-view camera market. The company’s ability to create an original design, combined with a video recorder, allows people to document and share aspects of lives in ways the world has not seen before. The introduction of GoPro cameras into educational environments will provide educators and students with the powerful tool of using video for daily learning. One of the key reasons for GoPro’s ability to stand out from other competitors is the success of the mount accessories that allow the camera to be placed in places that cameras have normally not been.
CEO Nick Woodman attributes part of GoPro’s success in reaching their buying audience to their aggressive marketing and heavy social media strategy. GoPro also became popular at a time when smartphones were causing digital camcorders and cameras to become obsolete. Woodman is of the opinion that people are not spending money on these two devices, so they now have money to purchase something like a GoPro, which differs from a smart phone. A major barrier in the marketing of the device is in the element of the promotion in the education field. Currently, there is a program called the 360Heros Education Program, which helps students receive discounts in order to promote their work and development of a video project. The discount is not for the device, but applies to a holder and software. Due to the high cost of the GoPro, and not a significant educational discount for the device itself, I see a major gap with promotion and accessibility in the education field. A lot of educators who are currently are using GoPro in educational settings are using their own personal devices. A real challenger who comes up with a similar device for a lot less money will cause great disruption to the sales of this company. More work has to be done in the area of marketing and promotion with regards to educational superintendents, who are considering technology initiatives to invest in, corporate trainers, and college and trades programs that are looking to invest in technology to enhance their programs.
In 2012, the Chinese company Foxconn, which manufactures iPhones and iPads, invested 200 million dollars into GoPro, giving them a 9% stake of the company and putting the value of GoPro at 2.25 billion dollars. In June 2014, GoPro went public, trading on the Nasdaq with the symbol “GPRO.” Initial shares began at $24 (USD) per share and the stock surged over 55%, with shares currently selling at over $38 (USD). The success of GoPro’s Initial Public Offering (IPO) is clear indicator of investor confidence, based on the success of the product and the brand built by the company.
As an Educational Venture Analyst, I have to say that GoPro is a leader in the point-of-view camera market as it is not only the innovator of this product, but also a company that is looking ahead in terms of investment and ways to stay ahead of competitors. The real value of the GoPro in terms of the educational field is the ability for educators and students to use their own open-end creativity with capturing not only the world around them, but also changing how we learn. I would recommend marketing the product to people in positions such as a superintendent and learning & training institution directors, because they are the individuals who would identify and purchase technology initiatives, such as GoPRo, for their organizations. Until a lower cost unit is made, this will be continue to be the market that GoPro has to push for. As time goes on, I would like to see GoPro develop more software-based products, given the rise of the mobile market and the rise of different mobile attachments that allow users to use their smartphone to capture video. Overall, the success and recent IPO position of GoPro are all indicators of a great company to invest in for the future.