Nick’s fortunes were built on a common device – a digital camera. If you’re wondering how he was able to compete with giant manufacturers in the industry, the answer is simple – innovation. Lots of people get inspired to innovate from hundreds of different things or events in their lives. Nick’s inspiration was surfing.
While recovering from a failed business venture called funBag, Nick decided to focus his attention on surfing. He travelled the world in search of the best surfing destinations. On one of his trips, Nick discovered that it was an amateur photographer’s dream to capture surfing action up close. At that time, he was using a digital camera strapped to his hand with a rubber band while riding the waves. After that, an idea was born. He decided to create digital cameras that people could wear.
His idea led to the birth of a new company called GoPro. Nick worked 18-hour days to create the camera’s design. With a small amount of funds, he was able to gather with his wife, Nick started producing the cameras and selling them wherever he could.
While participating in a sports show in 2004, Nick grabbed his first large-scale order of 100 units from a Japanese company. His product was starting to get worldwide attention and in 2012, a Taiwanese Company called Foxxcom invested $200 million dollars in GoPro.
GoPro has been a statement of success from day one. After the first large-scale order in 2004, the company has been doubling their sales almost every year. Today, the company makes billions of dollars a year in sales, and this keeps on adding to Nick’s billion-dollar fortune.
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