Famous YouTuber Markiplier Is Now GoPro's Biggest Shareholder
"It's part of a larger mission to make filmmaking more accessible."
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YouTuber and independent filmmaker Mark Fischbach, better known as Markiplier, has become GoPro's largest shareholder, and the announcement caused the camera maker's stock to soar.
Bloomberg reported that Markiplier acquired an 8.5% stake in GoPro, according to a Schedule 13G filing. "I saw the stock and where it was, I was like that seems undervalued," said Fischbach in an interview with Bloomberg.
The YouTuber also said that the purchase is "part of a larger mission to make filmmaking more accessible," but he isn't aiming to be an activist investor; he doesn't want to change or influence control of the company. Fischbach directed and produced the indie horror film Iron Lung and used GoPro cameras to shoot behind-the-scenes footage during production.
Before Bloomberg announced that Markiplier had become the largest shareholder, the filmmaker posted a promotional video for GoPro's Mission 1 ILS camera that included an affiliate discount code, but he never mentioned his stake in the company, which caused some scrutiny from other creators.
And even though the 8.5% stake is a sizable one, it doesn't resolve the company's business problems; it has laid off employees and explored a potential sale, and the underlying financial pressure remains regardless of Fischbach's involvement.
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