Markiplier’s 13.5 Million Share Bet on GoPro

Mark Edward Fischbach, better known as Markiplier, now owns 13.5 million shares of GoPro Class A stock. That is 8.5 percent of the class, enough to make him the camera maker’s largest single public shareholder. A Schedule 13G filed with the SEC on August 20 lists the position as of July 13. He holds sole voting power and sole dispositive power over every share. Just him, listed as an individual, with a California address through his business managers in Encino. He certified he did not buy the stock to seize control or force a board fight.

Cost is the elephant in the room, as this filing clearly states the price tag: $8 million to $9.3 million, based on recent prices of around 60 cents per share. Following Monday’s rise, GoPro’s capitalization has plummeted to $110 million, down from about $13 billion a dozen years ago. You can guarantee that with a thinly traded name like this and only 13.5 million shares, it will be a major catalyst. Today, shares soared by roughly 46% to the $.88 cent level (now another 50% to $1.32 after hours). Not to mention that the stock has already fallen by half this year, after losing more than 90% in the previous five years.

Despite the fact that Fischbach currently owns the majority of Class A shares, founder Nick Woodman continues to wield considerable power. Dual class stock implies Woodman has almost 60% of the voting power, even with Fischbach in the lead–although one report claims Woodman’s own holdings are around 27 million shares. On paper, being the largest shareholder is not the same as having influence over a corporation.

GoPro has been fighting to get back on its feet for some time, with revenue sliding and an almost $51 million loss last quarter. There has already been a 23% layoff. With money so tight, Woodman even financed the company $20 million by buying stock, as shares had been selling below $1, putting them at risk of being delisted from the Nasdaq exchange. The company has hired Houlihan Lokey to find buyers, and there has been a going-concern warning in recent files, indicating that Fischbach elected to invest their own money in this company.

His own explanation is blunt. “I saw the stock and where it was, I was like that seems undervalued.” He added that the position was “just something I’ve been cooking in the background” because he wants the company to succeed. He also framed the buy as part of a wider push to make filmmaking cheaper and easier to start.


That second part explains why he can afford to write a $8 to $9 million check; he’s been on a roll since releasing his horror film Iron Lung on a $3 million budget, which grossed more than $50 million. It’s no surprise that the behind-the-scenes material for that film was shot with GoPro cameras. After receiving that type of theatrical paycheck, signing a check for a brand he already uses, especially for a sum like that, makes a lot more sense than you might have expected. This is not the only investment in which we see this pattern. He has also invested in Strada, an AI-enabled company that assists filmmakers in dealing with large files.


Mission 1 Pro ILS is the product that seems to have sealed it. GoPro’s new interchangeable-lens body weighs under 7 ounces, takes Micro Four Thirds glass, and lists for $700. Specs include a 50-megapixel 1-inch sensor, 8K60, Open Gate, and burst slow motion up to 960 frames a second. Fischbach tried to get a look at NAB in April and was turned away. He kept asking. GoPro later brought him to the San Mateo offices. “It blows my mind what it can do in such a small package,” he said. He thinks the camera opens a new segment for them. Last week he posted a video comparing it to a much pricier Red Komodo-X and said he plans to use it on future movies.
[Source]