Thursday, December 20, 2012

GoPro Gets $200M From FoxConn

GoPro, the maker of the very popular line of action sports cameras, has just received $200M from Apple iPod manufacturer FoxConn (Hon Hai Precision Industry Co., Ltd.), in a deal that values GoPro at $2.25 billion. GoPro--which has operations in San Diego--announced the deal this morning, saying that the investment gives Hon Hai Precision an 8.88 percent stake in the company. FoxConn's founder and CEO, Terry Gou, will join GoPro's board as part of the deal. GoPro's cameras are among the most popular accessories for amateur athletes, video production companies, professional athletes, and others for their ability to capture--and survive--extreme sports conditions. GoPro was founded UC San Diego grad Nicholas Woodman, who thought up of the company while surfing off the Southern California coast. More information »

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