Chinese GoPro rival Insta360 sees strong debut in Shanghai IPO as firm eyes expansion
After the Star Market’s biggest debut in a year and a half, executive Max Richter touted the company’s commitment to global markets amid trade tensions
Insta360, the Chinese action camera maker challenging GoPro, surged 285 per cent in its trading debut on Shanghai’s Star Market after raising 1.9 billion yuan (US$264.5 million) in the city’s largest initial public offering (IPO) in 17 months.
Max Richter, Insta360’s vice-president of marketing, said the company is “committed to expanding [its] global presence and elevating brand influence to boost [its] market share worldwide”. He identified China, the US, Europe, Japan and South Korea as key markets for the company.
Richter, who joined the company a year after 34-year-old Chinese entrepreneur Liu Jingkang founded it in 2015, spoke to the Post ahead of Insta360’s debut. It is trading under the company’s official name, Arashi Vision.
Best known for its 360-degree cameras, action cameras and webcams, Insta360 has built a following among adventure enthusiasts, vloggers and other content creators. The company has partnered with Western brands such as Google, to help capture Street View images, and Adobe, integrating into the Premiere Pro video editing workflow with a plug-in.
Insta360 was the leading brand of consumer 360-degree cameras in 2023, with a 67 per cent share of the market, and came second in action cameras behind GoPro, according to market research firm Frost & Sullivan.