BUSMHR 3510.01 Lecture Notes - Lecture 5: Nick Woodman, Action Camera, Camcorder
5 Apr 2016
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Document Summary
High video quality founded in 2002 by nick woodman: Problem was that many amateur photographers couldn"t get close enough recognition: Top 10 best brand channels on youtube 2014 business model: Ipo sold over 17 million shares at a share. Shares go back up during spring and summer time competition: Copycats selling for cheaper price barriers to entry: After 3 years of developing prototype & mass producing it, really took off. Sales went to another level in 2011 with high def camera keys to success: Slam will have drones flying over and following, also a map. Can always create new products since competitors are failing so badly. Different from other sites because picture is gone within seconds. Gives freedom to post whatever they like, makes feel secure business model: Hard to develop business model because the app is free, hard to advertise on it. Free of advertisement, didn"t want to clutter it. After gaining popularity venture capitalists invested in it.
