Nick Woodman on Shark Tank
|GoPro Inventor Nick Woodman|
Newest Shark Tank Investor
If the producers only pick one new Guest Shark for Season 6, they certainly picked a very grateful self-made entrepreneur with an amazing Success Story. Woodman, only 39 years old, currently has a net worth of $4 billion since the Go-Pro Stock went public earlier this year. When all the smart phone manufactures were cramming everything into a single devise, these small practically indestructible video camera's seemed to beat all the odds, and quickly has grown into a multi-billion dollar phenomenon.
If I had to describe Nick Woodman in a single word after watching several of his videos, it would simply be "Grateful". Going from a failed online business losing millions to a personal networth around $4 billion within 10 years time, Nick has many reasons to be very grateful living a dream even he couldn't have imagined not long ago.
We already own a GoPro Hero 3 my Son talked me into buying before a ski trip last winter. It was also when I first learned about this young billionaire changing an entire industry one "extreme video" at a time. "Once you Go-Pro - You'll Never Go Back." Nick Woodman not only invented the perfect mini video camera that's practically indestructible, He's created a huge following of Outdoor Enthusiasts that's very loyal exclusively using the GoPro Brand. In fact, just using the word "Go Pro" within a title on a You-Tube Video, has become a great keyword and search phrase in the types of outdoor extreme videos to expect. You don't video tape those memories; you Go-Pro them!
It's kind of interesting never hearing about Nick Woodman before this year, but how many time's his name keeps coming up lately. And now, SOB, he's going to be a Guest Shark on the Shark Tank Show. I just so happened to be watching CNBC (like most mornings) June 26th of this year, when the Go Pro Stock started trading publicly on the NASDAQ. At first it reminded me of the morning FaceBook went public because of the unusually long time pairing the initial orders. Fortunately, for Nick Woodman, that first publicly traded day ended much better than Mark Zuckerberg's memorable day.
The Go Pro Stock initially was set at $24 per share at the IPO. The demand to invest in this small high definition camera/ multi-media business kept climbing until finally opening at $27.65 per share later that morning. The stock kept climbing and closed at $30.73 with a nice 28% on the first day of trading, and an initial valuation of the GoPro Brand set at $3 billion. Within the first two weeks, the stock was up 100% from the initial IPO with no signs of slowing down. That is until Kevin O'Leary, Mr. Wonderful Shark Tank Investor, makes a bearish call on the GoPro Stock live on CNBC.
I don't remember the exact numbers, but Kevin called the top in the Go Pro stock within a point or so from the current bid around $50. I think O'Leary may have also mentioned during the interview he'd take a short position at the current price, but I have no idea if he actually made that trade. If Kevin did take his advice and short the Go Pro Stock at that time, he was spot-on in calling the "short term" top. That was a very impressive (and risky) bold call to make on the new darling of Wall Street. It was also short-lived as the Go Pro stock consolidated before returning to new highs around $94 per share a few months later.
Making a deal with Nick Woodman on the Shark Tank certainly would come with a lot of benefits having this hard-core entrepreneur on your side. Anyone that can take an idea along with $265k in start-up capital, and turn it into a multi-billion dollar empire within ten years time, is someone we can all learn many valuable lessons. The best lesson is simply being "Grateful" for every day we have turning our dreams into reality, and give it everything you have along the way. This new Shark is living his "Ultimate Dream", and will be a great addition to the Shark Tank Show.
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