- GoPro CEO said he would consider partnership or sale earlier today
- GoPro said it's cutting more than 20 percent of its global workforce
- Shares fell today about 20 percent after weak guidance
GoPro has hired J.P. Morgan Chase to help it seek a potential sale, according to people familiar with the matter.
J.P. Morgan helped underwrite GoPro's initial public offering in 2014. No sale is assured, said the people, who asked not to be named because the discussions are private. It's unclear if there is an interested buyer for the company.
GoPro CEO Nick Woodman told CNBC's Josh Lipton earlier Monday the company would consider a sale or partnership with another company, though it plans to remain independent.
"If there are opportunities for us to unite with a bigger parent company to scale GoPro even bigger, that is something that we would look at," Woodman said.
Shares of GoPro were down 19 percent in midday trading, after the camera maker said it was laying off about 20 percent of its workforce and lowering guidance after a weak holiday season.
Late last year, GoPro said it would lower prices for its Hero5 Black cameras after weak demand. The company said it expects revenue of about $340 million for the fourth quarter after projecting $470 million for the quarter in November.
With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, and CNBC World, CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to more than 409 million homes worldwide, including more than 91 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 15 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 7:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide. CNBC at night features a mix of new reality programming, CNBC's highly successful series produced exclusively for CNBC and a number of distinctive in-house documentaries.
CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms including: CNBC.com; CNBC PRO, the premium, integrated desktop/mobile service that provides live access to CNBC programming, exclusive video content and global market data and analysis; a suite of CNBC mobile products including the CNBC Apps for iOS, Android and Windows devices; and additional products such as the CNBC App for the Apple Watch and Apple TV.
Members of the media can receive more information about CNBC and its programming on the NBCUniversal Media Village Web site at http://www.nbcumv.com/programming/cnbc.
For more information about NBCUniversal, please visit http://www.NBCUniversal.com.