Drones and Virtual Reality for GoPro, Shares Up 6.57%

GoProNick Woodman, CEO of GoPro, Inc. (NASDAQ/GPRO), spoke at Re/code’s Code Conference on Wednesday, May 27. He said the company is moving into virtual reality and drones. GoPro is known for making head-mounted cameras. The company was founded in 2002 by Nick Woodman. It went public in June of 2014.(Source: Re/code, May 27, 2015.)

Six-Camera Device Capturing Virtual Reality

GoPro’s move into virtual reality would take the form of a six-camera spherical array. The ball-shaped device will have six of GoPro’s “Hero4” cameras pointing in different directions. These cameras would capture the images and video needed to create virtual reality. The recorded footage would then be turned into virtual reality using software by Kolor, which GoPro acquired in April. Final output can be viewed on virtual reality headsets such as “Oculus,” “Google Cardboard,” and “Microsoft HoloLens.” GoPro said the six-camera device will be available in the second half of 2015, but did not release pricing information on the product.

Drones: Another “Oh My God” Moment

Woodman also said that GoPro is working on a quadcopter, better known as a drone, which is scheduled to launch in the first half of 2016. These drone products will be aimed at consumers. The CEO said that the view from drones would give consumers an “Oh my God” moment, just as the GoPro cameras did when they came out: “It’s something that’s in our DNA, and we are excited about it across the company.” GoPro did not reveal the design or pricing of the drones. The company is working on its own hardware, but will continue to work with other drone manufacturers to provide video- and image-capturing solutions. The stock market welcomed GoPro’s new adventure plans. GoPro’s share price jumped up 6.57% to $56.78 in Thursday’s trading. (Ibid.)