GoPro CEO and Founder Nick Woodman said his company is open to a sale.
“It would be irresponsible not to,” Woodman told CNNMoney. “If there was an opportunity to merge GoPro with a larger parent company that could help us scale our business and provide a better return on investment to our investors than we can alone as an independent company — absolutely … we would welcome the opportunity to explode such an opportunity.”
Woodman, who made the comments at CES in Las Vegas, noted GoPro is not actively pursuing a sale at the moment or in active discussions.
A spokesperson said the company is working with JPMorgan to explore its options.
Earlier this week shares dropped 30%, hitting an all-time low when GoPro ( announced it was getting out of the drone business. )
The company also announced it’s cutting 20% of its staff including some executives.
Woodman is also cutting his annual pay to $1.
CNNMoney (New York) First published January 10, 2018: 3:27 PM ET