GoPro forks out $105m to acquire video editing startups

GoPro has brought into its fold two video editing startups to help boost one of the company's major concerns — poor video editing features. GoPro plans to absorb both the startups' combined workforce into its team without displacing any of the employees from their current locations.

GoPro's latest acquisitions are Stupeflix, which is behind the video editing app Replay, and Vemory, which was responsible for developing an app called Splice. GoPro shelled out $105m (£75m) for its latest expansion, which resulted in the company weighing lighter in both cash and stock. Although the employees of both the companies will be added to the GoPro team, they will remain in their current locations in Paris and Austin, TechCrunch reported.

GoPro CEO and founder Nicholas Woodman said: "Splice, Replay and GoPro will combine to deliver what we believe will be the fastest and most enjoyable mobile editing experience. We believe the accessibility, speed and efficiency of mobile will make it the predominant editing platform of the future."

Consumers were interested in GoPro at the launch of its product, especially since it was advertised as a camera that would enable users to capture themselves in sporting or athletic moments giving them the ability to look like professional athletes. However, the arduous process of filtering through hours of footage and poor video editing features has left many users dissatisfied. The company's recent downward spiral in both stock and user growth is reflective of its poor service.

In the face of growing user dissatisfaction, GoPro acknowledged that its video editing features are less than stellar and require attention. "Video editing has been a big deal and a challenge not just for GoPro but for every company involved in this business. It's not an easy developmental hurdle and there have been constraints in mobile," Woodman said, according to a report by Forbes.

GoPro's recent acquisition's apps, Replay and Splice, are currently available on iOS, with the teams collaborating to soon release an Android version of it later in the year.