GoPro announced that Hon Hai (A.K.A. Foxconn), a leading electronics manufacturing company, has purchased 8.88% of the company for $200 million, valuing GoPro at nearly $2.25 billion. Not a bad day for owner and founder Nick Woodman. As part of the deal, Foxconn Founder and CEO Terry Gou will join GoPro’s board.
Foxconn is widely known for manufacturing products such as Apple’s iPhone, iPad, Sony PlayStation, and Microsoft Xbox. Kind of a big deal.
“Needless to say, we are over the moon to have Terry Gou and Foxconn join us on our mission to scale GoPro into one of the great enabling companies of our time,” said GoPro Founder and CEO, Nicholas Woodman. “Foxconn and GoPro see a future where personal content capture and enjoyment will play an increasingly important role in our lives and we’re excited to combine efforts to strengthen GoPro’s position in that future.”
Terry Gou added, “I saw a great opportunity in investing in GoPro, not only the company’s product lines but also the man who is running the company. The first time I saw Nick Woodman, I immediately knew he was an outstanding entrepreneur who has the caliber to be very successful in this business. And together with Foxconn, the outlook of this company is even brighter as we commit to helping it achieve its fullest potential.”