The company was founded by Nick Woodman in 2004. He was motivated by a 2002 surfing trip to Australia in which he was hoping to capture quality action photos, but could not because amateur photographers could not get close enough or buy quality equipment at reasonable prices. His desire for a camera system that could capture the professional angles inspired the 'GoPro' name.
Woodman raised a portion of his initial capital by selling bead and shell belts for under US $20 from his VW van and, later, fashionable camera straps. He also received over $230,000 from his parents to invest in the business.
In 2004, the company sold its first camera system, which used 35 mm film. Digital still and video cameras were later introduced. As of 2014, a fixed-lens HD video camera with a wide 170-degree lens was available; two or more can be paired to create 360 video.
On June 4, 2014, the company announced the appointment of former Microsoft executive Tony Bates as President reporting directly to Woodman.
In January 2016, GoPro partnered with Periscope for live streaming.
After growing the number of employees by more than 500 in 2015, the company responded to weak sales in the fourth quarter by cutting about 7% of its workforce (100 workers) in January 2016.
At its peak, a share of GoPro was valued at $86, but on September 27, 2016, only $16.79.
In November 2016, the company announced it was laying off an additional 200 employees in an effort to reduce costs. The company also announced that President Tony Bates would be stepping down at the end of 2016. 270 more employees were laid off in March 2017.