Who is Nick Woodman?
He is the founder of Go Pro, a manufacturer of action cameras. He was born in 1975 in California. He is married to Jill Woodman, they have 3 children.
His father Dean Woodman is a successful investment banker and philanthropist. He lent his son US$ 200.000 to fund the start-up of the camera business. His father now still owns 6% of the GoPro stock.
GoPro was founded by her CEO Nick Woodman as Woodman Labs in 2002. Following a surf trip when he tried to capture quality action photos.
The company began doing business as GoPro in February 2004. Nowadays GoPro is the largest producer of action cameras with a market share of approx 40%.
In 2012 Foxconn purchased 9% of the company for US$200 million which valued the company at $2.25 billion.
In 2015 GoPro realized US$ 1.6 billion in revenue and a net income of USD 36 million. Nicholas Woodman owns approx. 40 million shares or 30% of the share capital. He has 76% of the voting power.
In 2016 GroPro introduced the Karma Drone. The drone business is driven by commercial uses, including 3D mapping, delivery, and data harvesting. Agriculture will become a big user of drones. Goldman Sachs predicts that the total spending on drones worldwide will be over $100 billion in the coming years.
In 2017 the company announced job cuts of 270 employees, in an effort to reduce operating costs by about $200 million.
In 2018 Go Pro stopped producing the Karma drone. They introduced the Hero 7 Black action camera, which became very successful. The company’s current product lineup is the Hero 7 in Black, White, and Silver and the GoPro Fusion. It also sells accessories such as a Travel Kit, Sports Kit and helmet or surfboard strap mounts.
Nick Woodman Net Worth
In 2014 the GoPro founder was named the highest-paid U.S. chief executive with a total pay package of US$ 285 million. Forbes estimates the Gopro net worth at US$ 2 billion.
He has an annual base salary of US$ 800,000 and a target bonus of US$ 1,200,000.
Woodman is an active philanthropist through his Jill + Nicholas Woodman Foundation. He donated US$ 500 million to the Silicon Valley Community Foundation.
In 2015 he appeared on TV as an investor of the show Shark Tank. He invested US$125,000 in 2 start-up companies.