Markiplier bets $9.3M on GoPro, becoming its biggest shareholder
What's the deal? YouTuber and filmmaker Mark Fischbach, known as Markiplier, has acquired an 8.5% stake in GoPro, making him the struggling camera maker's largest single shareholder, BloombergDealroom has a profile for this one. Try Dealroom → reports. At GoPro's current valuation, the stake likely cost him around $9.3 million.
Why now? Fischbach sees a bargain. GoPro is valued at $110 million, down from roughly $13 billion 12 years ago, with its stock off nearly 57% year to date and 93.6% over five years. "I saw the stock and where it was, I was like that seems undervalued," he said.
What's the endgame? Fischbach shot much of the behind-the-scenes footage for his horror film Iron Lung on GoPro cameras, and is drawn to the company's Mission 1 Pro ILS — effectively a tiny cinema camera. "It blows my mind what it can do in such a small package," he said, adding that GoPro has "a big future with this camera."
He is not an activist investor, but he is committed to making filmmaking more accessible. Bloomberg notes he has also backed StradaDealroom has a profile for this one. Try Dealroom →, which builds file-sharing tools for filmmakers.
Background: GoPro's troubles are well documented. It has cut staff, searched for buyers, and founder and chief executive officer Nick Woodman has loaned the company money through stock purchases.
Fischbach's own filmmaking credentials are unusual. After years on YouTube and tens of millions of subscribers, he moved to Hollywood this year with Iron Lung , which took over $50 million at the box office against a $3 million budget — and which he distributed himself.
What could go wrong? GoPro has traded below $1 per share for some time, running afoul of NASDAQDealroom has a profile for this one. Try Dealroom → listing requirements. A single sympathetic investor, however committed, does not resolve that.
The signal: A creator-turned-filmmaker taking the top stake in a legacy hardware brand shows how the lines between content, distribution, and the tools behind them are blurring — and how far GoPro has fallen from its $13 billion peak.
Read more: petapixel.com
