Shutterstock

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Shutterstock

logo
legal form
founding 2003
Seat Empire State Building
350 Fifth Avenue
New York City, New York, US
management Jon Oringer (46.3%)
Number of employees 700
Branch Stock Photography , footage , production music
Website www.shutterstock.com
As of June 28, 2019

Shutterstock is an American stock provider based in New York City . The company was founded in 2003 by programmer and photographer Jon Oringer. Shutterstock now has a library of around 200 million stock photos, vector graphics, and illustrations . Shutterstock has been publicly traded on the New York Stock Exchange since 2012 .

Since inception, Shutterstock has acquired a handful of other companies, starting with Bigstock in 2009 and followed by digital asset management software provider Webdam in 2014. After acquiring Rex Features and PremiumBeat in 2015, Shutterstock signed a partnership agreement with The Associated Press . Most recently, Shutterstock acquired Flashstock.

In March 2016, Shutterstock had over 100,000 photographers uploading images to its website. The active customer base includes 1.4 million people in 150 countries.

history

Founding and early years (2003-2011)

Shutterstock was founded in 2003 by American entrepreneur and programmer Jon Oringer. Oringer created his own online marketplace. Oringer initially uploaded 30,000 of his own photos and made them available as a subscription for $ 49 a month. The subscription gave you unlimited downloads. When demand exceeded his photo supply, Oringer began hiring additional contributors. Videos have been uploaded to Shutterstock since 2006 with the introduction of Shutterstock Footage. In 2007 the company had 1.8 million photos. Shutterstock expanded beyond the subscription model to à la carte prices in August 2008 .

On September 23, 2009, Shutterstock announced that it had bought Bigstock, a competing photography agency. Shutterstock CEO Jon Oringer said the addition "will enable Shutterstock to better serve the diverse payment preferences of customers around the world." Shutterstock had 11 million images in its library by early 2010. In February 2011, Shutterstock announced a two-year partnership with the American Institute of Graphic Arts (AIGA) to provide creative inspiration for its members. A Shutterstock app for the iPad has been available since November 2011 and is available free of charge.

IPO (2012-2013)

Shutterstock Images LLC announced the Shutterstock Instant tool in May 2012 . Shutterstock Instant was launched under the auspices of the newly formed Shutterstock Labs. Also in May 2012, Shutterstock submitted an initial public offering on the New York Stock Exchange. On October 17, 2012, Shutterstock was listed on the stock exchange. In November 2012, Shutterstock made its debut with an iOS application, which is intended for iPhone and iPad , among others .

Shutterstock, Inc. announced Spectrum, a new "Image Discovery Tool" in March 2013. At that time, Shutterstock had 24 million licensable photos, vectors, and illustrations in its portfolio. In August 2013, Shutterstock and Facebook announced a partnership to integrate the Shutterstock library into advertisements. This enabled advertisers on Facebook to select images from Shutterstock. Back then, Shutterstock was available in 20 languages.

New partnerships (2013-2014)

In September 2013, Shutterstock launched Offset, a marketplace that focused on high quality photos from established artists. A few months later, Shutterstock launched its first Android app. In October 2013, Shutterstock opened offices in Berlin . Shutterstock shares had reached a market value of $ 2.5 billion by the fall of 2013, while sales for 2013 were $ 235 million.

In March 2014, Shutterstock acquired Webdam, a provider of online digital asset management software. Also in March 2014, Shutterstock relocated its headquarters to the Empire State Building . In May 2014, Shutterstock and Salesforce partnered to integrate Shutterstock's image database with Salesforce's social studio. On September 2, 2014, Shutterstock announced that it had exceeded 2 million uploaded video clips. Shortly thereafter, Shutterstock unveiled a new app designed to help contributors upload and categorize photos. Shutterstock's revenue was $ 328 million in 2014, a 39% increase over 2013. In 2014, Shutterstock paid over $ 83 million to its approximately 80,000 collaborating photographers and artists.

Recent developments (since 2015)

In January 2015, Shutterstock acquired both Rex Features, Europe's largest independent photo press agency, and PremiumBeat, a stock music and sound effects service. Penske Media Corporation (PMC) partnered with Shutterstock in June 2015 to create and license entertainment and fashion images. Under the terms of the deal, Shutterstock would have an exclusive right and license to PMC's archive through 2016, which included magazines such as Variety , Women's Wear Daily and Deadline. The company also acquired BEImages, another large independent photo press agency.

In March 2016, Shutterstock had over 100,000 photographers uploading images to its website. The active customer base includes 1.4 million people in 150 countries. In the same month Shutterstock announced that it would distribute Associated Press material in the United States.

In July 2016, Shutterstock announced a partnership with Google . The partnership aims to promote the integration of the images in services such as AdSense , AdWords and AdMob .

In October 2016, Shutterstock announced a deal with the European Pressphoto Agency .

In February 2018, Shutterstock invested $ 15 million in the Chinese company ZCool. The purchase builds on the successful relationship Shutterstock and ZCool have had since 2014 when ZCool first became the exclusive distributor of Shutterstock creative content in China. Webdam, which acquired Shutterstock in 2014, was sold to Amsterdam-based Bynder for $ 49.1 million to evolve Shutterstock's strategy away from digital asset management.

In May 2018, IBM Watson Content Hub officially announced a partnership with Shutterstock. Watson Content Hub is a content management system (CMS).

In May 2020, the company announced that it would switch its income structure from a flat-rate minimum model to a percentage-based model by June 1. The income of the contributors can be reduced from the previous minimum payment per downloaded image of 25 cents to 10 cents or 15 percent of sales at the entry level, with the author ratings being reset to zero at the beginning of each year.

Premises and staff

Shutterstock is headquartered in New York. In October 2013 Shutterstock opened its new European headquarters in Berlin. Since March 2014 Shutterstock has additional offices in Amsterdam , Chicago , Denver , London , Montréal , Paris and San Francisco . After Shutterstock was headquartered in New York for years in an office on Wall Street , Shutterstock moved to the Empire State Building in March 2014. According to Shutterstock, the office was chosen with the aim of reducing commute times for New York employees.

Founded in 2003 with CEO Jon Oringer as the sole employee, Shutterstock had grown to 30 employees by 2007. By 2016 the number of employees had grown to more than 700.

Individual evidence

  1. ↑ From stock photos to the stock market: Shutterstock CEO reveals how the company went public. Retrieved June 28, 2019 .
  2. ^ A b Steven Bertoni: Silicon Alley's First Billionaire Aims To Dominate Images On Web. Retrieved June 28, 2019 .
  3. ↑ Shutterstock Takes Aim at Digital Transformation. Retrieved June 28, 2019 .
  4. ↑ a b Shutterstock. Retrieved June 28, 2019 .
  5. ↑ Shutterstock Acquires Digital Asset Management Service WebDAM, Goes After Enterprise Market. In: TechCrunch. Retrieved June 28, 2019 (American English).
  6. ↑ a b Shutterstock Acquires Rex Features For $ 33M And PremiumBeat For $ 32M. In: TechCrunch. Retrieved June 28, 2019 (American English).
  7. ^ Roy Greenslade: New York company buys picture agency Rex Features . In: The Guardian . January 16, 2015, ISSN  0261-3077 ( theguardian.com [accessed June 28, 2019]).
  8. ↑ a b Nina Zipkin: How Shutterstock Is Training Its System to Help You Find Better Photos. March 10, 2016, accessed June 28, 2019 .
  9. ↑ Dana Schwartz: Inside Offset, Shutterstock's Surreal, Millennial-Targeted Stock Image Brand. In: Vice. November 29, 2015. Retrieved June 28, 2019 (American English).
  10. ↑ Introducing Shutterstock Footage®: A Stock Video Resource from Shutterstock® - Press & Media - Shutterstock. Retrieved June 28, 2019 .
  11. ↑ Shutterstock Launches New "On Demand" Subscription to Serve Full Spectrum of Stock Image Buyers - Press and Media - Shutterstock. Retrieved June 28, 2019 .
  12. ↑ AIGA partners with Shutterstock to provide creative inspiration to members - Presse und Medien - Shutterstock. Retrieved June 28, 2019 .
  13. ↑ Brad McCarty: Shutterstock for iPad gets released, showcasing 16mm images - TNW Apps. November 3, 2011. Retrieved June 28, 2019 (American English).
  14. ↑ Shutterstock Re-imagines Image Search with a New Discovery Tool: Shutterstock Instant - Press and Media - Shutterstock. Retrieved June 28, 2019 .
  15. ↑ Shutterstock Announces Universal iOS App - Press and Media - Shutterstock. Retrieved June 28, 2019 .
  16. ↑ Facebook Makes Ads Prettier With Shutterstock Partnership To Offer Free Stock Images In Ad Creator. In: TechCrunch. Retrieved June 28, 2019 (American English).
  17. ↑ Shutterstock Continues to Meet Demand for High Quality Imagery in Asia and Launches Website in Korean and Thai Languages ​​- Presse und Medien - Shutterstock. Retrieved June 28, 2019 .
  18. ↑ Shutterstock launches new high-end photo service 'Offset'. In: VentureBeat. September 24, 2013. Retrieved June 28, 2019 (American English).
  19. ↑ Martin Bryant: Shutterstock Launches on Android App. December 10, 2013. Retrieved June 28, 2019 (American English).
  20. ↑ Shutterstock Opens European Headquarters in Berlin, Germany - Press and Media - Shutterstock. Retrieved June 28, 2019 .
  21. ↑ Joseph Gacinga: Where Are Shutterstock Shares Going? -. May 12, 2014, accessed June 28, 2019 .
  22. ↑ a b Will Yakowicz: Shutterstock's Big, Data-Driven Move Office. May 5, 2014, accessed June 28, 2019 .
  23. ^ Salesforce Launches Its Social Studio For Marketing Collaboration And Custom Integrations. In: TechCrunch. Retrieved June 28, 2019 (American English).
  24. ↑ Shutterstock Surpasses 2 Million Video Clips in Its Marketplace - Press & Media - Shutterstock. Retrieved June 28, 2019 .
  25. ↑ Shutterstock launches Contributor App. Retrieved June 28, 2019 (American English).
  26. ^ Shutterstock beats Getty, partners with Variety, WWD publisher. June 22, 2015, accessed June 28, 2019 .
  27. ↑ Shutterstock announces API integration with Google. In: Business of Apps. July 13, 2016. Retrieved June 28, 2019 (American English).
  28. ↑ Shutterstock Inc: epa european pressphoto agency and Shutterstock Sign Global Distribution Deal. Retrieved June 28, 2019 .
  29. ↑ Staff: Shutterstock Expanding in China via investment in ZCool. Retrieved June 28, 2019 .
  30. ↑ Bynder acquires digital asset management service Webdam from Shutterstock for $ 49.1M. In: TechCrunch. Retrieved June 28, 2019 (American English).
  31. ↑ IBM's Watson integrates Shutterstock to make photos, videos, and music easier to find. In: VentureBeat. May 17, 2018, Retrieved June 28, 2019 (American English).
  32. ^ New earnings structure for contributors. Retrieved June 21, 2020 (American English).