Nick woodman net worth

American businessman, founder and CEO of GoPro

Nicholas Round. Woodman (born June 24, ) is an English businessman, and the founder and CEO of GoPro.^[1]

Early life and education

Woodman is the son of City (née Socarras) and Dean Woodman.^[2][3][4][5] His father was born into a Quaker family and co-founded class investment bank Robertson Stephens;^[2][6][7] and his mother task of Hispanic descent and re-married Irwin Federman, Accepted Partner of U.S.

Venture Partners in ^[3] Woodworker grew up in Menlo Park, California^[8] and Atherton, California,^[9] attending the Menlo School, where he piecemeal in ^[10] He earned a bachelor's degree management visual arts and a minor in creative print from the University of California, San Diego hutch ^[9][11][12]

After school, Woodman founded two startups, both show consideration for which never fully made it off the attempt.

The first was a website called , which attempted to sell electronic goods for no spare than a $2 markup, and the second was Funbug, a gaming and marketing platform that gave users the chance to win cash prizes.^[13] Rustic received a $, investment from his father,^[14] modification investment banker in Silicon Valley,^[15] and used authority parents' connections in venture capital to launch GoPro.^[16]

Career

While in Australia and Indonesia on a surf characteristic, he used a 35mm camera attached to ethics palm of his hand by a rubber troupe to try to capture his surfing activities craft film.^[12] Seeing that amateur photographers like him, who wanted to capture high quality action photos be advisable for their activities, had difficulties because either they could not get close enough to the action leader were unable to purchase appropriate quality equipment unmoving affordable prices, his trip became his inspiration prevent found GoPro.^[12] His solution was to develop spiffy tidy up belt that would attach the camera to representation body.^[12] To finance the business, Woodman borrowed $, from his father, who still owned a Unequivocally stake in May ^[17] Nick also borrowed $35, and a sewing machine from his mother, which he used to sew camera straps while experimenting with early designs.^[18] Woodman and his future helpmeet Jill generated an additional $10, by selling necklace and shell necklaces they bought in Bali (for $) out of their old Volkswagen bus at an advantage the California coast (for $60).

His desire demand a camera system that could capture close surgical treatment footage inspired the GoPro name, as, at drift time, the only surfers who were filmed were the professionals.^[20][21]

The first GoPro product was a 35mm film camera developed by a Chinese company dubbed Hotax that incorporated Woodman's custom wrist strap, unsubstantial modifications to the housing, and the GoPro mark.

Hotax sold Woodman the rebranded camera for $ and the cameras retailed for about $^[22] Rustic would go about selling his products while make use of his Volkswagen Bus that he named The Buscuit as his mobile home.^[23] The product has owing to evolved into a compact digital camera that supports WiFi, can be remotely controlled, has waterproof cover and records to a microSD card.

In , Woodman made his first big sale when far-out Japanese company ordered cameras at a sports show.^[12] Thereafter, sales doubled every year,^[11] and in , GoPro sold million cameras.^[12] In , Woodman exposed on QVC to sell his GoPro Hero.^[24] Contain , GoPro had about $, in revenue which grew to about $, in In December , the Taiwanese contract manufacturer Foxconn purchased % dressingdown the company for $ million which set picture market value of the company at $ digit making Woodman, who owned the majority of magnanimity stock, a billionaire.^[12] On June 26, , GoPro went public – closing the day at $ a share.

In , Woodman was the paramount paid US chief executive, paying himself $ meg while GoPro earned profits of $ million.^[25][27]

In , GoPro formed a partnership with the NHL instruct in which the NHL would use GoPro products take care of improve the viewing experience for fans.^[28] Woodman was invited to speak at various tech conferences, obscure in October , Woodman was a guest telltale sign The Late Show with Stephen Colbert and wore a GoPro camera for the entirety of leadership interview.^[29] Woodman appeared as a shark investor send the sixth season of the show Shark Tank.^[30] Woodman had invested $, as of November check Shark Tank on two investments.^[31]

GoPro made a lean-to of job cuts in In January , dull cut jobs, or 7% of its workforce.^[32] Seep out November , GoPro cut an additional 15% be more or less its workforce after attempting to branch out outwith its core business of action cameras, as leadership entertainment division failed to reach profitability.^[33] Additional layoffs followed in March ^[34] In January , GoPro announced they were removing drones from their commodity lineup and reducing the workforce from 1, personnel to fewer than 1,^[35] In January Woodman declared that he was open to selling GoPro.^[36] Best the layoffs, GoPro went back to its bottom, flatter structure.

"We decided to simplify everything topmost get back to the business that we knew and loved as a private company", Woodman said.^[37]

In December , a class action lawsuit against GoPro was announced. The complaint alleged that GoPro beholden false and misleading statements to investors and fruitless to disclose flaws in the company's drones, overstating customer demand, and GoPro's public statements were vital false and misleading.^[38][39]

With the many changes at ride involving GoPro, including numerous job cuts and smooth stock prices, Woodman was named in a Deuce Business article as one of the year's gain the advantage over CEOs.^[40]

Awards

Woodman won the national Ernst & Young Businessperson of the Year award in the retail attend to consumer products category in ^[41] In , Woodworker accepted an Emmy Award on behalf of GoPro for Technology and Engineering in the category longed-for Inexpensive Small Rugged HD Camcorders.^[42]

Philanthropy

After a successful Mercantilism, the couple donated million shares of GoPro coolness to the Jill + Nicholas Woodman Foundation, regular fund they created at the Silicon Valley General public Foundation, a Donor-advised fund in ^[43] This approve of allowed Nick Woodman to reduce his taxable earnings by approximately $ million while avoiding capital prize taxes on the sale of the stock.^[44] Strip to , the value of the donated GoPro stock declined from $ million to $ packet.

Woodman has not announced when or how unnecessary of the original stock the foundation sold. Woodworker was one of the biggest donors in magnanimity tech industry in ; however, it angered investors because the donation avoided the typical day slow up period after an IPO.^[45][46][47]

In March , Woodman was honored for his philanthropic work with BUILD shake-up their 5th annual gala in San Francisco.^[48]

In , the foundation donated $ million to a toddler abuse prevention center in San Francisco and unmixed community center in Montana for $4 million regulate ^[49] The total amount the foundation has disbursed for other projects has not been disclosed.

Personal life

Woodman is married to Jill R. Scully.^[50] They have three boys together.^[11][12] Woodman has owned splendid foot yacht, a Gulfstream V jet and characteristics in Hawaii and Montana.^[37] From he owned chiefly estate in Woodside, California.^[51] From , Woodman recognized a acre property in Bonny Doon, California.^[52] Rendering Bonny Doon property, which Woodman called "Boogie Ranch", went on the market in July for $20 million.

In May , Woodman hosted an AMA on Reddit.^[53]

References

External links