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Article Date: January 2018
Word Count: 267

GoPro Kills Karma, Slashes Q4 Guidance, May Be For Sale

The company has hired J.P. Morgan to explore a sale, according to multiple sources, as GPRO confirmed last Friday’s rumors that it is laying off over 20% of its staff and said it will exit the drone segment entirely, while also pre-announcing a dismal Holiday quarter. CEO Nick Woodman said in a CNBC interview that he would consider a sale of GoPro to a larger company that would help it scale, but later clarified to Reuters that the company was not actively engaged in a sale process. At a current market cap of just $900 million, down 92% from its ... Log in to view full article.


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