Through the 2000s, point-and-shoot cameras were a booming category led by Japanese giants like Canon and Nikon—until smartphones. By the mid-2010s, the notion that there could be a new, standalone camera company was unthinkable - until GoPro. But as we covered a year ago, GoPro is nearing extinction. Innovation has slowed, product has stagnated, sales have plummeted, losses have soared, and shares have cratered.
Starting a camera company today is asking for punishment. You’d be crushed on one end by the trillion-dollar titans in Apple and Samsung or smooshed on the other by the old-guard of Nikon and Canon. What’s left in the middle are niches like action cameras that look too small and volatile to ever sustain a billion-dollar business.
But Insta360 has done the impossible in what many presumed to be a dead market. Today, they’re the youngest, most profitable, and fastest-growing camera maker in the world, surpassing GoPro, Nikon, and Canon. In 10 years, Insta360 has grown from a dorm room idea into a $10B powerhouse as the category leader in 360 cameras. Their cameras are sold at Apple Stores, Best Buys, and Costcos all around the world, endorsed by Internet stars like Casey Neistat, and support use-cases that extend far beyond extreme sports.
In this Modern MBA Original, we go boots on the ground to understand the rise of Insta360, how startups can topple giants, and how product can only be a moat with humility.
Modern MBA
Through the 2000s, point-and-shoot cameras were a booming category led by Japanese giants like Canon and Nikon—until smartphones. By the mid-2010s, the notion that there could be a new, standalone camera company was unthinkable - until GoPro. But as we covered a year ago, GoPro is nearing extinction. Innovation has slowed, product has stagnated, sales have plummeted, losses have soared, and shares have cratered.
Starting a camera company today is asking for punishment. You’d be crushed on one end by the trillion-dollar titans in Apple and Samsung or smooshed on the other by the old-guard of Nikon and Canon. What’s left in the middle are niches like action cameras that look too small and volatile to ever sustain a billion-dollar business.
But Insta360 has done the impossible in what many presumed to be a dead market. Today, they’re the youngest, most profitable, and fastest-growing camera maker in the world, surpassing GoPro, Nikon, and Canon. In 10 years, Insta360 has grown from a dorm room idea into a $10B powerhouse as the category leader in 360 cameras. Their cameras are sold at Apple Stores, Best Buys, and Costcos all around the world, endorsed by Internet stars like Casey Neistat, and support use-cases that extend far beyond extreme sports.
In this Modern MBA Original, we go boots on the ground to understand the rise of Insta360, how startups can topple giants, and how product can only be a moat with humility.
3 weeks ago | [YT] | 66