GoPro, Inc. (marketed as GoPro and sometimes stylized as GoPRO) is an American technology company founded in 2002 by Nick Woodman. It manufactures action cameras and develops its own mobile apps and video-editing software. Founded as Woodman Labs, Inc, the company eventually focused on the connected sports genre, developing its line of action cameras and, later, video editing software. It is based in San Mateo, California. It developed a quadcopter drone, Karma, released in October 2016. In January 2018, Karma was discontinued. Also in January 2018, the company hired JPMorgan Chase to pursue options of selling the company. However, a month later, the CEO denied this. GoPro has continued its business in manufacturing action cameras. History The company was founded by Nick Woodman in 2002. He was motivated by a 2002 surfing trip to Australia in which he was hoping to capture high quality action photos, but could not because amateur photographers could not get close enough or buy appropriate quality equipment at reasonable prices. The 'GoPro' name came about as Woodman and his surfing friends all aspired to become professional surfers as 'going pro' was the ultimate goal and the only way to be filmed on the water at that time. The camera range was branded 'Hero' as their aim was to capture close-up action shots that made the subject look like a hero. Woodman raised a portion of his initial capital by selling bead and shell belts for under US$20 from his VW van and, later, fashionable camera straps. He also received over $230,000 from his parents to invest in the business. In 2004, the company sold its first camera system, which used 35 mm film. Digital still and video cameras were later introduced. , a fixed-lens HD video camera with a wide 170-degree lens was available; two or more can be paired to create 360 video. On June 4, 2014, the company announced the appointment of former Microsoft executive Tony Bates as president reporting directly to Woodman. In January 2016, GoPro partnered with Periscope for live streaming. After growing the number of employees by more than 500 in 2015, the company responded to weak sales in the fourth quarter by cutting about 7% of its workforce (100 workers) in January 2016. In November 2016, the company announced it was laying off an additional 200 employees in an effort to reduce costs. The company also announced that President