Possibility growing of Xiaomi acquiring GoPro
GoPro has long been the go-to name that people think of for capturing sporting occasions and such, but with its recent attempts to expand into drones and innovating on its form factor, it’s gone through some hungry times. Earlier this year, it had started to go through the process of offering the company to buyers.
Now, investors are hopped up on news that Xiaomi has considered making an offer for GoPro. Bloomberg reports that GoPro, once worth over $10 billion, is now valued at around $761 million. Meanwhile, the Chinese company, worth tens of billions of dollars, could utilize the brand name value as well as existing infrastructure and retail partnerships.
GoPro stock rose 7.2 percent today.