Date: 2024-05-18 Page is: DBtxt003.php txt00026037
COMPANIES
GoPro
Modern MBA ... The Extinction of GoPro
GoPro
Modern MBA ... The Extinction of GoPro
Original article:
Peter Burgess COMMENTARY
Peter Burgess
Modern MBA
Nov 5, 2023
385K subscribers ... 296,308 views ... 7.3K likes
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In the 2010s, there was one startup who by the measures of Silicon Valley and Wall Street, seemed destined to be the next big billion-dollar consumer brand. That company was GoPro. GoPro took the world by storm with its game-changing cameras. With radically compact design, tiny form factor, high portability, rugged waterproof exteriors, and reasonable picture quality - GoPro cameras were able to capture never before seen action and perspectives.
GoPro was category-leading and category-defining - the company had effectively created and owned an entire category of cameras. It was the pioneer, golden standard, and household name as GoPro was not just the name of the product and company, but also became the unofficial label for any small, portable, action camera on the market.
Yet fast forward to present-day in 2023, less than a decade later, and GoPro’s stock has dropped 95%. How could a company who had all the right ingredients from the measures of Silicon Valley and Wall Street, squander it all in such a short period of time? How could having a market-defining, category-leading product be worth so little? In this episode, we’ll cover the rise and fall of GoPro into 3 eras, their failures in strategy, and how the company’s collapse serves as a crucial lesson on the importance of knowing your market.
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- 0:00 Be A HERO
- 6:06 The Golden Age
- 18:20 The Era of Doom
- 29:03 Dead Brand Walking