My Most Admired Technology Venture

This assignment is about GoPro Inc., a technology-based company that produces the world's best action cameras. The company was founded by Nick Woodman in 2002 and has since become a leader in the market with a share of 47.50%. GoPro's product, process, or service is unique and innovative, offering features such as wide-angle cameras with world-class action camera capabilities. The company relies on a new or proprietary enabling technology, including software, GPS, gyroscope, compass, and more. GoPro has a strong competitive advantage due to its brand awareness and integrity, which sets it apart from competitors like VIEVU, Samsung, EyeSee360, and Contour Adventure Every Day.

Running head: Entrepreneurship 1
Most Admired Technology Venture: GoPro
Student Name
Institution

Entrepreneurship 2
My Most Admired Technology Venture: GoPro Inc.
1. Was the market addressed by the venture new or previously unidentified, or was
it known but not yet addressed satisfactorily? Explain.
GoPro was previously known as Woodman Labs but then it changes its name to GoPro
Inc in the year 2014. Earlier the company focused on making digital and still photography and
camera accessories. But as there was not much demand for action cameras as people were very
less fond of this technology and they prefer mobile for capturing photos and videos. Also, their tv
ads were not that much attractive to bring customers. But after this, they understand what
customer need, they made an attractive tv ad for hero 5 and Karma and also, they made changes
in their camera now they have wide-angle cameras with world’s best action camera capability.
(Burrows, n.d.)
2. Is the venture’s product, process or service unique or an innovation, or was a
similar product offered previously but not effectively? Explain.
After a couple of years of foundation, in 2006 go pro launched firs HERO in 2004 and
generated a revenue around $150000. In the second year, the company made its first digital
HERO with video recording capability of 10seconds. This time generated revenue went to
$800000. In the year 2014, GoPro launched HERO 3 which was the upgraded version of HERO.
This time HERO 3 was capable of recording video at an aspect ratio of 16:9 and also it supports
4k Ultra HD recording with still photographs of 12 MP. Now the latest model is GoPro HERO 6
which is far more better than the previous model. Also, they have introduced a drone with the
name of KARMA and this has changed the way GoPro was known earlier. (Graser, n.d.)

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3. Does the venture rely on a new or especially clever business model? Explain.
There is a large-scale market business model that is followed by GoPro, in which there is
no notable contrast between client segments. The organization focuses on its lines of cameras to
any individual who needs to have the capacity to catch symbolism without holding the gadget in
their own hands. GoPro utilizes the Content Management Strategy as its business strategy it
attempts to eliminate the basic purpose of managing content by enabling the customer to
organize content from the camera and to compose the content and empower proper editing and
sharing. GoPro Studio and the GoPro application are the underlying periods of the management
of content platform strategy.
4. Does the venture rely on a new or proprietary enabling technology, or is the
technology in relatively widespread use? Explain.
GoPro is a technology-based company which used to manufacture world’s best action
camera, since its foundation of HERO, GoPro is using technology like software’s, GPS,
gyroscope, compass and much more. Today go pro itself is a technological revolution and today
it’s among the world’s best action camera.
5. Was the venture founded by a serial entrepreneur or by a first-time founder?
Has the leadership changed since the venture was founded?
The venture was founded by Nick Woodman in the year 2002. That time GoPro was
known as Woodman Labs, Inc. Since its beginning, the leadership is under Nick Woodman.
6. Did the venture beat all other key competitors in the market or was it a follower
or even a laggard? Explain.
Some of the major competitors of GoPro are VIEVU, Samsung, EyeSee360 and contour
adventure every day. Its exclusive and groundbreaking line of special advantage capture devices

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by GoPro on its competitors. It additionally offers different gadgets that incorporate batteries,
camera mounts, charging tools, and cables to connect with their GoPro cameras for screens and
TV to oversee and exchange information. This advantage can keep going as long as the
organization keeps on giving creative and special catching gadgets. In addition, the newly
launched new product should be according to market preferences so that the significant market
share held by the company can be maintained and further extended. In the market of action
camera, GoPro is the leader with the share of 47.50%. Also, the share of the company will likely
grow. It’s been reported that amongst all the user of action of action camera 54% people are
using GoPro. And according to the researchers, this will grow to 73%.
7. Does the venture appear to have a high potential for growth of sales and profits,
or is it a niche business with modest growth potential? Explain.
In the year 2004, its revenue was $150000. After a couple of years in 2006, its revenue
increased to $800000 next year its revenue multiplied to $3.4 million. Currently is revenue is
$1.18 Billion. Operating income is in the loss as compared to the previous year and it is $163.46
million. Although GoPro is a world leader in action camera still their share is falling.
8. Does the venture have a strong competitive advantage? On what basis? Are there
barriers to entry that would impede imitators or other firms that might seek to
address the same market? Explain, naming known strong competitors, if any.
Explain.
Despite the change in the offerings made by the competitor, this expansion in a piece of
the overall industry. In Garmin's VIRB line, there are similar features which are in Hero 5 line
from GoPro, and Kodak is doing some fascinating work with 360 videos that can compete with
GoPro's advanced items. In any case, they are kept once more from the share of the market with

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the awareness of integrity and brand awareness, a few financial specialists cannot overlook. The
greatest challenge for GoPro is that it appears that there is no utilization of technology.
Ambarella is really the mind behind GoPro's camera and application innovation GoPro Trails
makes competitors. From a specialized point of view, GoPro does not by any means do anything
that no other organization can copy, which is the reason its the advantage of brand image is so
essential.
9. Does the venture challenge establish major corporations? Is it disrupting a
previously established way that the same market need has been addressed?
Explain.
N/A
10. Are there concerns that lie ahead for the venture? Explain.
Following are the major concerns lying in front of GoPro, these are:
1. Negative Free Cash Flow
2. Entering very late in spherical camera technology.
3. Expensive Products
Bibliography

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Burrows, P. (n.d.). GoPro’s Incredible Small, Durable Camcorder. Retrieved 4 24, 2018, from
BusinessWeek: http://www.businessweek.com/magazine/gopros-incredible-small-
durable-camcorder-07012011.html
Graser, M. (n.d.). GoPro Sees Future as 'Content Company'. Retrieved 4 24, 2018, from Variety:
https://variety.com/2014/digital/news/gopro-sees-future-as-content-company-
1201172433/
4.