GoPro $GPRO will be bought for $285 million by Starman Optical. Shareholders are set to receive about $1.14 per share in cash, while retaining approximately a 10% stake in the newly merged company. The stock is reacting with a rise of more than 64%.
GoPro has changed incredibly over the past few years. The company went public in 2014 at $24 per share and at one point was worth nearly $4 billion. GoPro was practically synonymous with action cameras.
But the company never really managed to find another major product to build growth on. Phones have increasingly better cameras, competition intensified, and what was once a huge growth story is now a company being sold for less than $300 million.
Does anyone still use a GoPro? And do you remember the time when these stocks and cameras were popular among people?