Latest in Gear

Image credit: Edgar Alvarez

CNBC: GoPro is putting itself up for sale

The company is believed to have enlisted the help of JPMorgan Chase.
1110 Shares
Share
Tweet
Share
Save
Edgar Alvarez

Sponsored Links

Hot on the heels of GoPro announcing plans to fire up to 300 people and pull out of the drone business is the news that the company may put itself up for sale. CNBC is reporting that the action-camera maker has enlisted the services of JPMorgan Chase to help it find a potential buyer. Earlier in the day, the outlet reported that CEO Nick Woodman would "look at" opportunities to "unite with a bigger parent company." At this time, it's not clear if other parties are interested or how much it would cost to swallow the brand.

We've reached out for comment but have yet to hear back from GoPro or any of its representatives. It's possible that the rumor is little more than a fever dream, but the company has seen several loss-making quarters and celebrated a slender $15 million profit in late 2017. Despite the company's return to the black, investors were displeased, and its stock dropped around 10 percent at the time. Since then, its Karma Drone project has been closed down and GoPro was forced to cut the price of its Hero6 Black camera by $100 to spur sales.

Click here to catch up on the latest news from CES 2018.

Source: CNBC, (2)
In this article: cameras, CES2018, gear, GoPro, NickWoodman, Rumor, Sale
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
1110 Shares
Share
Tweet
Share
Save

Popular on Engadget

Supreme's 'burner' phone is built for hypebeasts

Supreme's 'burner' phone is built for hypebeasts

View
'Superhot' and 'Hotline Miami' hit Nintendo Switch today

'Superhot' and 'Hotline Miami' hit Nintendo Switch today

View
Google stops sending Android cell signal data over privacy concerns

Google stops sending Android cell signal data over privacy concerns

View
Disney+ will have apps for iOS, Apple TV, Android and Xbox One

Disney+ will have apps for iOS, Apple TV, Android and Xbox One

View
'Always Audi' program gives new customers free Silvercar rental days

'Always Audi' program gives new customers free Silvercar rental days

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr