After his attempt at a dot-com company failed, Nicholas Woodman traveled to Australia and Indonesia. While he was abroad, he realized that he could sell waterproof cameras. In 2002, Woodman founded Woodman Labs, the parent company of GoPro (GPRO).
GoPro makes some of the most versatile cameras in the world. These products are capable of fitting into small spaces, attaching onto helmets, and surviving harsh environments. The company also develops mobile applications and video editing tools that allow users to create high-quality videos captured on their tiny cameras. This article looks at the company’s five largest individual shareholders.
Key Takeaways
- GoPro is a maker of some of the most versatile cameras in the world.
- The company was launched in 2002 by Nicholas Woodman, who serves as GoPro’s CEO.
- GoPro reported revenue of $1.16 billion for the 2021 fiscal year.
- The top individual shareholders of GoPro are Nicholas Woodman, Brian McGee, Kenneth Goldman, Peter Gotcher, and Dean Jahnke.
- Fidelity, The Vanguard Group, and BlackRock are GoPro’s three largest institutional investors.
GoPro: An Overview
In September 2004, GoPro developed and sold its first camera, the 35-mm HERO, which brought in sales of $350,000. Woodman continued to innovate his product and led GoPro through a Series A financing round in 2011.
GoPro ended 2011 with over $200 million in revenue. Revenue more than doubled in 2012, and hit $985.7 million in 2013. The company reported revenue of $1.16 billion for the 2021 fiscal year.
GoPro has been focused on developing innovative camera technology, accessories, lifestyle gear, applications and subscription services.
The company’s shares have dropped significantly since its initial public offering (IPO) in 2014. But the five largest shareholders are still keeping a tight grip on their investment. Holders of Class A common stock are entitled to one vote per share, and holders of Class B shares are entitled to 10 votes per share.
1. Nicholas Woodman
Woodman is the company’s chief executive officer (CEO) and GoPro’s largest shareholder. Woodman owns 25.2 million Class B shares, as of March 31, 2022. He holds 64% voting control of the company. He also owns 179,117 Class A shares as of that date.
Since Woodman’s humble beginnings in his 1971 Volkswagen bus, in which he drafted up patents and legal documents for Woodman Labs, he’s helped GoPro grow into a billion-dollar technology company.
Woodman and his wife Jill are co-trustees of the Woodman Family Trust, which owns roughly 25.2 million Class B shares of GoPro.
2. Brian McGee
Brian McGee is GoPro’s executive vice president, chief financial officer (CFO), and chief operating officer (COO). Prior to joining the company, he served in various positions at Qualcomm, Atheros Communications, and Intellon.
McGee owns a total of 426,267 class A shares.
3. Kenneth Goldman
Kenneth Goldman has served on GoPro’s board of directors since December 2013 and as a lead independent director of the company’s board since April 2017.
Goldman has been the president of Hillspire LLC, a wealth management service provider, since September 2017. From 2012 to 2017, he was the CFO of Yahoo!, and oversaw company’s global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations.
Goldman owns 241,920 Class A shares and 95,000 Class B shares.
4. Peter Gotcher
Peter Gotcher has been on the company’s board of directors since June 2014 and is an independent private investor who focuses on investments in digital media technology companies. Gotcher was a venture partner with several private investment firms, including Redpoint Ventures from September 1999 to June 2002 and Institutional Venture Partners between 1997 and 1999.
In 1984, he founded Digidesign, a manufacturer of digital audio workstations, serving as its chair, president, and CEO. His company was acquired in the mid-1990s by Avid Techonology, where he served as the executive vice president from 1995 to 1996. He is also on the board chair of Dolby Laboratories.
Gotcher owns 268,191 class A shares and 17,234 class B shares.
5. Dean Jahnke
As of February 2019, Dean Jahnke is the senior vice president of global sales, channel marketing and retail experience. He’s a familiar face at GoPro, having served in a variety of positions since March 2014. He’s worked in the sales management space for a number of years, including as senior merchant at Best Buy between 2000 and 2008.
Jahnke owns 306,297 Class A shares and 9,600 Class B shares.
Institutional Shareholders
Individual shareholders aren’t the only ones highlighted on the company’s proxy statement. GoPro filed paperwork listing the top four institutional investors as of March 31, 2021.
Fidelity (FMR, LLC) held the most shares, with almost 12.5 million Class A shares. This represents 9.55% ownership. The Vanguard Group was the second-highest institutional shareholder, with almost 12 million or 9.15% of the company’s Class A shares. BlackRock was the third-largest, holding about 11.7 million or 8.96% of the total Class A shares issued. The fourth largest shareholder, Prentice Capital Management, holds less 6% owvership with about 7.2 million shares.