|
Subscription-Based Stock Photography Agency Steps Up Expansion with its First Acquisition
Deal Coincides with Company Milestone: ShutterStock's Photo Library Hits 500,000 Images
New York--January 2nd, 2006
ShutterStock (TM) ( www.ShutterStock.com) is pleased to announce that the acquisition of the assets of stock photo agency Photosights.com is now complete. Through the deal ShutterStock has increased its customer base, recruited new professional photographers to the site, and gained access to new images to consider for its library of premium royalty-free photographs, an unparalleled collection that, as of this week, now exceeds half a million images. The acquisition is in line with the company's strategy of rapid growth based on providing the best service possible - in this case, an accessible and highly successful subscription model - to the creative community. "We're very excited about what this means for ShutterStock ," said CEO Jon Oringer. "With the assets of Photosights.com, we're able to offer ShutterStock clients, existing and new, an even stronger service than before." The deal will accelerate the pace of growth for ShutterStock's photo library (the site already adds over 5,000 images each week) as images from Photosight.com are evaluated by ShutterStock screeners and, if accepted, posted to the site. Photosight.com's photographers are encouraged to resubmit their photos to ShutterStock immediately to expedite the approval process and begin earning money from ShutterStock customer downloads. Photographers who had 2,500 images or more on the now defunct site are eligible for a "fast track" acclimation to facilitate their transition to ShutterStock. The deal is particularly newsworthy given how unusual it is for a company of ShutterStock's size to acquire the assets of a competitor. "ShutterStock's model seems to be working, and we will continue to act aggressively to improve our product, build our business, and increase our market share," said Oringer. About ShutterStock (TM)
Founded in 2003, ShutterStock is one of the fastest growing suppliers of royalty-free stock photography in the industry. Its outstanding collection of premium images combined with a user-friendly subscription model has made ShutterStock a trusted resource for an expanding global customer base. ShutterStock currently has over 500,000 images available to its subscribers, a number that increases every day. ShutterStock is a trademark of ShutterStock, Inc. For more information, visit www.ShutterStock.com. ShutterStock profile details on our agency database >>
|
Industry News 
