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GoPro’s CEO says the company is open to a sale, not actively shopping itself
June 12, 2025
Early todayGoProannounced lay offs of up to 300 people and the company’sexit from the drone business. Now rumors the action camera company may put itself up for sale are swirling.
Earlier today, CEO Nick Woodman toldCNBCGoPro it would look at opportunities to “unite with a bigger parent company.” He later toldBloombergthe company is not actively looking for a buyer. He also denied earlier reports thatJPMorgan Chasewas assisting in finding a buyer.
“I can confirm that JPMorgan is in fact our banker, but we have not engaged them to help us sell the company,” said Woodman.
“With that said, if there were any opportunity for GoPro to partner up with a larger organization that could help us scale the company, scale our brand and reach to consumers, then that’s certainly something that we would consider. But, it’s not something we’re actively engaged in at the moment.”
If the company decides to sell, it’s not immediately clear who might be interested. Despite a strong start, GoPro has fallen on hard times. It reported several quarters of declining revenues as its core business has taken a hit. An unsuccessful attempt at the drone business also hurt the company’s bottom line. GoPro’s initial valuation was $3 billion when it went public in 2014. As of Monday afternoon, its market cap fell to approximately $1 billion.
It may be too early to say the company is putting itself up for sale, but the writing certainly seems to be on the wall.
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