A Camera Company Founder Is A New Billionaire

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Nick Woodman Surfing
GoPro in the last few years have risen from the heat of the fire and become one of the worlds leading digital camera’s used to capture extreme sports in the world. They can be strapped to anything; helmets, chests and even surfboards. They deliver the highest resolution video in the world and the anti shake technology within them reduces the blur that can come from using other cameras.

Camera GoPro HD 3GoPro Camera HD HERO3Recently the GoPro founder joined the Billionaire ranks after selling 8.9% of his camera company to Foxconn Technology Group. This is a success story of phenomenal proportions as it involves the creation of gadgets which is a very rare feat in the modern age of computer technology. The rise from nothing to $600 million net sales in seven years for a gadget is a remarkable milestone.

Foxconn are hoping that this merge will allow Woodman to start supplying the cameras to bolster an already brilliant range of camera’s they have on offer. They both share a vision of the future that will ultimately help both of the companies develop revenue and produce new outstanding technology that will push the boundaries of cameras all over the world.

The idea for this supposedly struck Woodman while he was surfing in Australia. The cameras that surfers regularly attach to themselves would usually fly off mid wave and either smack them straight in the face or be lost forever in the depths of the sea. Many surfers get frustrated that they can’t ever take a perfect picture of themselves catching waves and so the idea turned into a technology that many could use all over the world.

Nicholas WoodmanWoodman took it upon himself to invent a strong, durable and adjustable elastic band that could safely secure a camera to a persons body. At first he bought sea shell made belts from a Bali market and sold the for $60 each up and down the California coast. He then combined that money along with a loan from his mother of $35,000 and set about creating the first GoPro camera straps. The product took another two years to develop into the perfection that it is today along with gruelling hours put in by Woodman himself bringing them a first big break in 2004 when 100 items were bought for an action sports trade show in Japan.

After this first break the company soared to heights that even Woodman had not anticipated and eventually led him to developing his own camera’s along with pressure sensitive mounts. Even F1 racing drivers are now able to look back on themselves during a high speed race and once GoPro users started posting video’s online with the cameras the GoPro image became a virus that spread all over the world.

GoPro cameras themselves now retail at around $300 dollars. There is now a host of add-ons that can be bought online or off including; long life batteries, head straps for bicycle helmets, and remote controls that can pivot the camera’s in certain directions without ever having to move it manually. The camera’s can be used to catch amazing moments and are being used by millions of people all over the world. Over the years the company has grown to include around 150 people and it is proof that one simple idea can turn into a goldmine of cash, and Woodman is definitely rolling in it.

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Rob Tucker

Rob Tucker is now the managing editor for The Tech Articles. He currently contributes to posts on a variety of topics.

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