GoPro has announced the $105 million acquisition of Stupeflix and Vemory, which are the companies behind the recent popular video editing apps Replay and Splice.
Stupeflix, best recognized for Replay, allows user’s to choose different photos and video clips, which is then able to routinely merge into one single complete video with graphics and music depending on user preference. Splice, created by Vemory, provides an easier video edit for consumers that want to make multifaceted videos from a mobile device. A lot of tools that Splice has to offer cannot be found in GoPro’s own mobile editing app, which is why GoPro made the move.
This isn’t the only big-time move the company has recently made. Recently, GoPro has teamed up with the PGA Tour and Skratch TV to give Golf fans newly angled footage during tournaments. It has also started collaborating with Periscope, Twitter’s live streaming app, to give users the ability for real-time video sharing.
All these moves by GoPro come after a significant revenue decline of 31% last quarter. It appears that GoPro is trying to make a big push back to their normal earnings, but could it be that GoPro is panicking? Making this amount of changes in such a short period of time is definitely an eye-opener for people looking to buy stock in the company. Some experts are saying that the new products from GoPro need to drive revenue or their stock is deep trouble. We will keep monitoring to see what happens as GoPro has already told investors that it will be off to a rocky start for the next quarter.