Media

Go-Pro gave 1% to Redbull for no cash in return. This is why.

Did you know Go-pro gave Redbull just under 1% in equity without a dime in return? This is why...

The deal

In 2016 Go-pro and Redbull entered a collaboration agreement. As apart of the agreement they were going to create, distribute and cross promote content together. Plus work on collaborative product innovation.

The deal was one of the best brand collaboration in history.

Redbull has 1800 media production teams in 100 countries. As apart of the agreement, Go-pro would be the exclusive film partner. And any content produced by those teams, were going to be cross promoted on all channels. That includes all of Redbull's TV and social assets, as well as Go-pros. In return Redbull got approx. 1% share in Go-pro.

On the product innovation side, Redbull wanted to use Go-pros technology. In fact even prior to the agreement Redbull was already filming with Go-pros. And Go-pro wasn't just building better cameras, but also VR and AR technology. And by partnering, Redbull got early access to use that technology.

How it happened?

So how did this partnership come about?

Prior to 2016, Go-pro and Redbull already had a ton of collaborations. The most notable one was Stratos jump.

You've probably seen this video of Fleix jumping 127,000 feet from the air. The video now has 43 million views. After the partnership, Redbull and Go-pro saw there was a real possibilities to story tell even more on a global scale. If they just worked together.

Why did this collaboration make sense?

Go pro sells more than cameras, and Redbull sells more than energy drinks. And both companies share the same vision: They want to inspire the world to live bigger lives. At the end of day, both are media companies. They create and distribute content. And story tell to invoke action and adrenaline. This partnership has let both companies leverage each others assets to scale and elevate their content even more.

It was a match made in heaven.

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