GoPro CEO Woodman reaffirms camera focus after Musk stake sale

GoPro CEO Nick Woodman wrote to customers this week to confirm the company’s ongoing focus on making cameras, even after a $285 million acquisition deal with Starman was announced. The letter came days after the company revealed the terms of the merger, which will see Starman—a venture firm founded by SpaceX co‑founder Elon Musk—take a significant stake in GoPro.

GoPro has struggled for years. Sales of its flagship HERO cameras fell sharply after the pandemic, and the company posted losses in 2023. The board sought fresh capital and strategic partners to keep the brand relevant. Starman’s investment offers cash and access to Musk’s network of tech companies, but Woodman stresses that the core product line will not be abandoned. “Making cameras is still my company’s core DNA,” he wrote, reassuring long‑time users that the brand’s identity remains unchanged.

Woodman also said the merger will give GoPro a stronger position to develop new content‑creation tools. The company plans to expand its software suite, integrate AI features for editing, and improve its ecosystem of accessories. Starman’s backing is expected to accelerate these projects, with a focus on livestreaming and virtual reality. Industry observers note that the deal could help GoPro compete with newer rivals like DJI and Sony, which are pushing into the same market space.

The next steps involve integrating Starman’s resources while maintaining GoPro’s manufacturing footprint. Woodman said the company will keep its U.S. headquarters and production lines, but will look to open new facilities in Asia for cost efficiency. The merger is expected to close in the second half of the year, after regulatory approval. If successful, GoPro could see a revitalized product lineup and a stronger presence in the growing creator economy, keeping its “stoke” alive for customers and investors alike.