GoPro's (GPRO) line of HERO cameras are the go-to devices for capturing extreme sports, and the company has built up a strong brand that's become a household name.
But GoPro now wants to expand its offerings beyond camera sales. It will launch its Karma drone some time this year and is building out its GoPro Entertainment segment and GoPro Licensing service as well. The company hopes these new initiatives can start bringing in additional money, especially as its revenue recently plummeted 31% year over year.
Click through the slideshow below to find out more about how GoPro makes money and how the company is expanding its business.
The next billion-dollar iSecret
The world's biggest tech company forgot to show you something at its recent event, but a few Wall Street analysts and the Fool didn't miss a beat: There's a small company that's powering their brand-new gadgets and the coming revolution in technology. And we think its stock price has nearly unlimited room to run for early in-the-know investors! To be one of them, just click here.