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Foxconn Invests In $200 Million in GoPro, Founder Nicholas Woodman Billionaire

MojoKid (1002251) writes | about 2 years ago

Businesses 0

MojoKid writes "Nick Woodman was inspired to create what would eventually become today’s GoPro wearable cameras after a surfing trip to Australia in 2002. He wanted to capture some close-up action shots and wasn’t able to with amateur camera gears. So he did what any enterprising entrepreneur would do and figured out his own solution to the problem. The initial wearable cameras Woodman created to capture action shots as they happened used 35mm film, but his company’s cameras have evolved into highly durable, HD vid-cams that are sought after by amateurs and extreme sports stars alike. It turns out Foxconn digs what GoPro has designed as well. The giant Taiwanese manufacturer just bought a significant stake in Woodman Labs, making Nick Woodman a billionaire in the processes. Taiwan-headquartered electronics manufacturer Foxconn (also known as Hon Hai Precision Industry Co.), purchased an 8.88% stake in Woodman Labs for $200 million, valuing the San Mateo, Calif. company at $2.25 billion."
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