Page 28 - Simply Electronics Case

maker in 2002 after building the first prototype with his mom's sewing
machine and a drill. He released his first video camera, a 35-millimeter
waterproof film version, in 2004 and went on to sell it everywhere from surf

shops to home shopping network QVC.

Woodman and his future wife Jill financed the business by selling shell
necklaces they bought in Bali (for $1.90) from their car along the California
coast (for $60). His mother loaned him $35,000 and let him borrow her
sewing machine, which he used to sew camera straps while experimenting

with early designs. His dad loaned him an additional $200,000, which
Woodman immediately paid back out of company sales. His desire for a
camera system that could capture close up footage inspired the 'GoPro' name.
The original cameras he developed were point-and-shoot 35mm film cameras
which mounted to the user's wrist.

GoPro goes public in June 2014

Apple has submitted a patent for “methods for shielding electronic
components from moisture”. If this new accessory turns out to be successful
and effective once it is launched, GoPro will have to face an enormous new
player in its market. However, it is hard to consider this patent to turn out to
be a direct competitor. Apple’s patent differs from GoPro’s concept because it
will be less versatile than the action cameras.

The Company offers its products in over 40,000 retail outlets and in over 100
countries through its direct sales channel and indirectly through its distribution
channel. It sells its products directly to retailers in the United States and
EMEA, and directly to consumers around the world through its e-commerce
channels. It also sells to retailers that are focused on various verticals, such as
consumer electronics, sporting goods, military, hunting and fishing and motor
sports.

It sells its full line of products directly to consumers around the world,
through its online store at gopro.com.