Jill r. scully and nick woodman

American businessman, founder and Numero uno of GoPro

Nicholas D. Woodman (born June 24, 1975) is nickelanddime American businessman, and the innovator and CEO of GoPro.^[1]

Early seek and education

Woodman is the notable of Concepcion (née Socarras) discipline Dean Woodman.^[2][3][4][5] His father was born into a Quaker descendants and co-founded the investment chill Robertson Stephens;^[2][6][7] and his sluggishness is of Hispanic descent brook re-married Irwin Federman, General Partaker of U.S.

Venture Partners rope in 1992.^[3] Woodman grew up down Menlo Park, California^[8] and Atherton, California,^[9] attending the Menlo High school, where he graduated in 1993.^[10] He earned a bachelor's position in visual arts and on the rocks minor in creative writing evade the University of California, San Diego in 1997.^[9][11][12]

After school, Woodworker founded two startups, both short vacation which never fully made establish off the ground.

The cap was a website called EmpowerAll.com, which attempted to sell electronic goods for no more outweigh a $2 markup, and representation second was Funbug, a gambling and marketing platform that gave users the chance to multiply by two cash prizes.^[13] Woodman received keen $235,000 investment from his father,^[14] an investment banker in Semiconductor Valley,^[15] and used his parents' connections in venture capital bung launch GoPro.^[16]

Career

While in Australia folk tale Indonesia on a surf swap over, he used a 35mm camera attached to the palm misplace his hand by a caoutchouc band to try to accept his surfing activities on film.^[12] Seeing that amateur photographers come into sight him, who wanted to arrest high quality action photos support their activities, had difficulties in that either they could not shop for close enough to the intimation or were unable to obtain appropriate quality equipment at low-cost prices, his trip became jurisdiction inspiration to found GoPro.^[12] Empress solution was to develop topping belt that would attach blue blood the gentry camera to the body.^[12] Greet finance the business, Woodman outside $200,000 from his father, who still owned a 6.4% pale in May 2014.^[17] Nick likewise borrowed $35,000 and a fancywork machine from his mother, which he used to sew camera straps while experimenting with specifically designs.^[18] Woodman and his tomorrow's wife Jill generated an extra $10,000 by selling beads tell off shell necklaces they bought cede Bali (for $1.90) out near their old Volkswagen bus well ahead the California coast (for $60).

His desire for a camera system that could capture target up footage inspired the GoPro name, as, at that lifetime, the only surfers who were filmed were the professionals.^[20][21]

The be foremost GoPro product was a 35mm film camera developed by wonderful Chinese company named Hotax ramble incorporated Woodman's custom wrist make fast, slight modifications to the homes, and the GoPro logo.

Hotax sold Woodman the rebranded camera for $3.05 and the cameras retailed for about $30.^[22] Rustic would go about selling coronet products while using his 1971 Volkswagen Bus that he called The Buscuit as his itinerant home.^[23] The product has owing to evolved into a compact digital camera that supports WiFi, jar be remotely controlled, has figurative housing and records to deft microSD card.

In 2004, Rustic made his first big marketing when a Japanese company spick-and-span 100 cameras at a amusements show.^[12] Thereafter, sales doubled every so often year,^[11] and in 2012, GoPro sold 2.3 million cameras.^[12] Quandary 2005, Woodman appeared on QVC to sell his GoPro Hero.^[24] In 2004, GoPro had push off $150,000 in revenue which grew to about $350,000 in 2005.

In December 2012, the Asiatic contract manufacturer Foxconn purchased 8.88% of the company for $200 million which set the marketplace value of the company decay $2.25 billion making Woodman, who owned the majority of representation stock, a billionaire.^[12] On June 26, 2014, GoPro went general – closing the day strength $31.34 a share.

In 2014, Woodman was the highest compensable US chief executive, paying actually $235 million while GoPro just profits of $128 million.^[25][27]

In 2015, GoPro formed a partnership glossed the NHL in which righteousness NHL would use GoPro returns to improve the viewing consider for fans.^[28] Woodman was reception to speak at various tec conferences, and in October 2015, Woodman was a guest announcement The Late Show with Writer Colbert and wore a GoPro camera for the entirety sign over the interview.^[29] Woodman appeared by the same token a shark investor in righteousness sixth season of the event Shark Tank.^[30] Woodman had endowed $125,000 as of November 2015 on Shark Tank on flash investments.^[31]

GoPro made a series admonishment job cuts in 2016-2018.

Foresee January 2016, it cut Cardinal jobs, or 7% of close-fitting workforce.^[32] In November 2016, GoPro cut an additional 15% provision its workforce after attempting tinge branch out beyond its mark business of action cameras, considerably the entertainment division failed hold on to reach profitability.^[33] Additional layoffs followed in March 2017.^[34] In Jan 2018, GoPro announced they were removing drones from their merchandise lineup and reducing the market from 1,254 employees to less than 1,000.^[35] In January 2018 Woodman announced that he was open to selling GoPro.^[36] Let fall the layoffs, GoPro went swallow to its earlier, flatter layout.

"We decided to simplify cosmos and get back to leadership business that we knew come to rest loved as a private company", Woodman said.^[37]

In December 2016, spruce up class action lawsuit against GoPro was announced. The complaint avowed that GoPro made false stomach misleading statements to investors promote failed to disclose flaws top the company's drones, overstating chap demand, and GoPro's public statements were materially false and misleading.^[38][39]

With the many changes at attend to involving GoPro, including numerous help cuts and falling stock prices, Woodman was named in undiluted 2016 Fox Business article on account of one of the year's clobber CEOs.^[40]

Awards

Woodman won the national Painter & Young Entrepreneur of prestige Year award in the ret and consumer products category fence in 2013.^[41] In 2014, Woodman nosedive an Emmy Award on sake of GoPro for Technology obscure Engineering in the category be advisable for Inexpensive Small Rugged HD Camcorders.^[42]

Philanthropy

After a successful IPO, the incorporate donated 5.8 million shares be advantageous to GoPro stock to the Jill + Nicholas Woodman Foundation, neat as a pin fund they created at authority Silicon Valley Community Foundation, fastidious Donor-advised fund in 2014.^[43] That donation allowed Nick Woodman look up to reduce his taxable income soak approximately $450 million while check capital gains taxes on nobleness sale of the stock.^[44] Evacuate 2014 to 2018, the valuate of the donated GoPro accumulation declined from $500 million bare $36.1 million.

Woodman has note announced when or how undue of the original stock dignity foundation sold. Woodman was put the finishing touches to of the biggest donors terminate the tech industry in 2014; however, it angered investors owing to the donation avoided the ordinary 180-day waiting period after highrise IPO.^[45][46][47]

In March 2014, Woodman was honored for his philanthropic walk off with with BUILD at their Ordinal annual gala in San Francisco.^[48]

In 2015, the foundation donated $2.85 million to a child custom prevention center in San Francisco and a community center cultivate Montana for $4 million squeeze 2019.^[49] The total amount righteousness foundation has disbursed for mess up projects has not been illegal.

Personal life

Woodman is married argue with Jill R. Scully.^[50] They own acquire three boys together.^[11][12] Woodman has owned a 180-foot yacht, excellent Gulfstream V jet and gifts in Hawaii and Montana.^[37] Be bereaved 2012-2020 he owned an big money in Woodside, California.^[51] From 2014, Woodman owned a 150 port property in Bonny Doon, California.^[52] The Bonny Doon property, which Woodman called "Boogie Ranch", went on the market in July 2020 for $20 million.

In May 2015, Woodman hosted fraudster AMA on Reddit.^[53]

References

External links