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SHUTTERSTOCK PICMONKEY 110MSOPERGEEKWIRE PRO
SHUTTERSTOCK PICMONKEY 110MSOPERGEEKWIRE SOFTWARE
SHUTTERSTOCK PICMONKEY 110MSOPERGEEKWIRE PROFESSIONAL
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Lightning Partners acted as financial advisor, and Latham & Watkins acted as legal advisor to PicMonkey.

Consideration for the transaction consists of $110 million of cash paid at closing and the acquisition is expected to be immediately accretive to Adjusted EBITDA and Adjusted Net IncomeĬapM Advisors acted as financial advisor, and Sheppard Mullin acted as legal advisor to Shutterstock.

Expected to contribute approximately 3% to Shutterstock’s annual revenues and to add more than 200,000 new subscribers.

SHUTTERSTOCK PICMONKEY 110MSOPERGEEKWIRE SOFTWARE

Expands Shutterstock’s audience reach and addressable market by extending into the rapidly growing $8 billion market opportunity for creative software and design tools.

Complements Shutterstock’s content subscriptions with easy-to-use image and video design tools.

These design and editing features represent a natural extension of Shutterstock’s content offering, and on a combined basis, will enable the delivery of a more unified customer experience across the creation journey.

SHUTTERSTOCK PICMONKEY 110MSOPERGEEKWIRE PRO

Key features of the PicMonkey tool includes photo editing, effects, touch-up tools, brand kits, cloud storage video, animations, and multi-page for creators, solopreneurs, social marketers, marketing professionals, pro designers and casual creatives.

The acquisition of PicMonkey is an important element of Shutterstock’s workflow solutions, empowering creatives, business owners and marketers to design with ease.

SHUTTERSTOCK PICMONKEY 110MSOPERGEEKWIRE PROFESSIONAL

“PicMonkey’s easy-to-use design and editing tools, collaboration features across teams, and robust library of pre-designed templates makes professional publishing assets accessible at scale to anyone, and is expected to allow Shutterstock to enhance and accelerate the delivery of our vision for our customers around the world.” A key element of Shutterstock’s strategy and vision is providing a suite of solutions for the entire creative journey, regardless of experience or expertise level,” said Stan Pavlovsky, Chief Executive Officer at Shutterstock.

“Content is at the core of Shutterstock’s offering, and selecting an asset is just one step of the creative process. This acquisition builds upon Shutterstock’s strategy to expand its offering to small businesses, by providing additional tools to non-professionals for elevating their visual content across a variety of platforms. While some professional design applications require formal training, the integration of PicMonkey into Shutterstock will further empower our customers, regardless of their skill level or expertise, to create beautiful, best-in-class content with efficiency and ease in just a few clicks.įounded in 2012, PicMonkey allows creators to access thousands of templates, graphics and fonts, with tips and tutorials for producing sophisticated visual designs with an editorial look and feel for a diverse array of channels. Whether it’s a future business owner using a presentation to effectively pitch their concept, or a large marketing team creating a campaign that makes people sit up and take notice, there is a pervasive need among non-designers to create compelling, professional content seamlessly. At Shutterstock, democratizing creativity and empowering the creation of professional content by anyone, regardless of design experience, has always been at the heart of the company’s vision. Visual content is the cornerstone of brand storytelling.

No clue what that's about.Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering full-service solutions, high-quality content, and applications for brands, businesses and media companies, today announced the acquisition of PicMonkey, a leading online graphic design and image editing platform that enables creators of any skill level to design high-quality visual assets - from presentations, advertisements and logos, to business cards and banners - for an array of use cases, including digital marketing, advertising, and social media posts. Shutterstock's stock (SSTK) closed down today but jumped in after-hours trading. It's also not clear that this is expanding the pool of buyers it may be Shutterstock wants to be sure it doesn't lose buyers to one of the other design tools.

SHUTTERSTOCK PICMONKEY 110MSOPERGEEKWIRE DOWNLOAD

If you're curious about the (many) online design tool subscriptions currently out there, here are a couple of alternatives-to-Canva articles:įrom the contributor's point of view, more buyers could be a very good thing, but for many of these design services, the royalty per download is small. Here's what PicMonkey is telling their users about the buyout: PicMonkey was using Unsplash and iStock as a partner for images and illustrations, but that's ending Sept 14th (Shutterstock takes its place). From what I've read, it seems Canva is the market leader in the online design-with-templates space and PicMonkey is just another player.