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The rise and fall of GoPro is one of the most fascinating business stories in tech history. Once holding over 67% of the global action camera market and valued at more than $11 billion, GoPro seemed unstoppable. From Nick Woodman’s scrappy beginnings selling the first wrist-mounted 35mm GoPro to surf shops, to its explosive IPO, to becoming the go-to camera for extreme sports and YouTube creators, the company was riding high. But then smartphones, cheap Chinese knockoffs, failed product launches like the Hero4 Session, and disastrous ventures into drones and media brought the brand to its knees. By 2024, GoPro had lost more than half its market share, was burning over $100 million in cash annually, and became a penny stock. 👇 SUBSCRIBE for more business breakdowns / @michael-girdley Get my free guide → Why Great Businesses Fail: 10 Multi-Million Dollar Mistakes To Avoid: https://links.girdley.com/10fails-yt ------------------------------------------------------------------ ► For sponsorships or inquiries please reach out to: [email protected] ► Get my weekly letter to business owners: essential insights to run, grow, and stay ahead in your business → https://links.girdley.com/newsletter-yt ► Free events on all things small business: https://links.girdley.com/lectures-yt ► Deep dives on businesses for sale: / @acquisitionsanonymouspodcast ► Follow me on Twitter/X: https://x.com/girdley ------------------------------------------------------------------ In this video, we break down GoPro’s full story — the innovations, the hype, the missteps, and the lessons for entrepreneurs and investors. If you’re interested in tech business case studies, market disruption, or startup cautionary tales, this one is for you. Chapters: 00:00 – GoPro’s billion-dollar rise 01:20 – Breakthrough products and perfect timing 04:29 – Competition and early missteps 05:53 – Product flops and declining sales 07:36 – Failed pivots into drones and media 09:35 – Market share collapse and lessons learned