October 16, 2021

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For Tech Lovers

Shutterstock Acquires PicMonkey, A Foremost Innovative Style and design System

6 min read

NEW YORK, Sept. 7, 2021 /PRNewswire/ — Shutterstock, Inc. (NYSE: SSTK), a main world artistic platform supplying full-support solutions, high-excellent articles, and programs for brand names, businesses and media firms, these days announced the acquisition of PicMonkey, a foremost on line graphic structure and impression editing platform that allows creators of any ability degree to style high-top quality visual assets — from shows, adverts and logos, to enterprise playing cards and banners — for an array of use conditions, like digital advertising and marketing, promotion, and social media posts.

Visible information is the cornerstone of model storytelling. At Shutterstock, democratizing creative imagination and empowering the development of skilled content by anyone, no matter of design expertise, has generally been at the coronary heart of the firm’s eyesight. Regardless of whether it really is a potential organization owner utilizing a presentation to properly pitch their concept, or a large advertising group creating a marketing campaign that makes persons sit up and just take observe, there is a pervasive have to have between non-designers to make compelling, specialist written content seamlessly. Though some skilled design and style apps call for formal education, the integration of PicMonkey into Shutterstock will further more empower our consumers, no matter of their ability amount or know-how, to make wonderful, very best-in-course written content with effectiveness and simplicity in just a couple clicks.

Started in 2012, PicMonkey makes it possible for creators to access hundreds of templates, graphics and fonts, with strategies and tutorials for creating subtle visible models with an editorial glimpse and feel for a varied array of channels. This acquisition builds upon Shutterstock’s strategy to grow its giving to small corporations, by offering further instruments to non-gurus for elevating their visual content throughout a variety of platforms.

“Articles is at the main of Shutterstock’s offering, and deciding upon an asset is just 1 phase of the creative approach. A key element of Shutterstock’s tactic and vision is furnishing a suite of remedies for the whole resourceful journey, no matter of expertise or abilities degree,” claimed Stan Pavlovsky, Chief Govt Officer at Shutterstock. “PicMonkey’s uncomplicated-to-use layout and enhancing tools, collaboration functions throughout teams, and strong library of pre-built templates would make skilled publishing assets obtainable at scale to any one, and is anticipated to make it possible for Shutterstock to boost and accelerate the shipping and delivery of our eyesight for our consumers close to the environment.”

The acquisition of PicMonkey is an critical element of Shutterstock’s workflow options, empowering creatives, enterprise owners and entrepreneurs to design and style with simplicity. Crucial capabilities of the PicMonkey software incorporates image enhancing, consequences, touch-up instruments, brand name kits, cloud storage movie, animations, and multi-page for creators, solopreneurs, social entrepreneurs, internet marketing gurus, pro designers and casual creatives. These structure and enhancing capabilities symbolize a organic extension of Shutterstock’s written content supplying, and on a combined foundation, will allow the shipping and delivery of a extra unified buyer experience throughout the generation journey.

Transaction Highlights:

  • Complements Shutterstock’s material subscriptions with uncomplicated-to-use impression and movie design instruments
  • Expands Shutterstock’s viewers arrive at and addressable industry by extending into the rapidly developing $8 billion market opportunity for imaginative application and style instruments
  • Anticipated to add approximately 3% to Shutterstock’s yearly revenues and to include far more than 200,000 new subscribers
  • Thought for the transaction consists of $110 million of money compensated at closing and the acquisition is predicted to be quickly accretive to Altered EBITDA and Modified Net Profits

CapM Advisors acted as money advisor, and Sheppard Mullin acted as lawful advisor to Shutterstock. Lightning Companions acted as financial advisor, and Latham & Watkins acted as lawful advisor to PicMonkey.

ABOUT SHUTTERSTOCK

Shutterstock, Inc. (NYSE: SSTK) is a primary international inventive system supplying entire-service solutions, high-top quality information, and apps for models, companies and media organizations. Right and by way of its group subsidiaries, Shutterstock’s comprehensive assortment contains significant-good quality certified images, vectors, illustrations, videos, 3D types and music. Doing the job with its rising group of above 1.8 million contributors, Shutterstock provides hundreds of 1000’s of photos each week, and presently has extra than 380 million images and much more than 22 million online video clips out there.

Headquartered in New York Town, Shutterstock has workplaces around the environment and shoppers in far more than 150 international locations. The Company also owns Offset, a high-finish picture selection Shutterstock Studios, an close-to-conclude custom made artistic shop PremiumBeat, a curated royalty-absolutely free songs library Shutterstock Editorial, a premier source of editorial visuals and movies for the world’s media TurboSquid, a leading 3D articles market Amper Music, an AI-driven new music platform and Bigstock, a worth-oriented inventory media featuring.

For much more info, please check out www.shutterstock.com and abide by Shutterstock on Twitter and on Fb.

Forward-Wanting STATEMENTS

This push release has forward-searching statements within just the indicating of the Personal Securities Litigation Reform Act of 1995. Examples of ahead-hunting statements contain, but are not minimal to, statements relating to management’s upcoming company, future final results of operations or economical problem, including new or prepared capabilities, goods or services, management techniques, Shutterstock’s expectations concerning economic outlook and upcoming growth and profitability, statements about anticipated outcomes of the Company’s acquisition of PicMonkey and statements pertaining to anticipated advancements in operations. You can recognize ahead-on the lookout statements by words and phrases these types of as “may perhaps,” “will,” “would,” “ought to,” “could,” “assume,” “foresee,” “consider,” “estimate,” “intend,” “plan,” “possibilities” and other identical expressions. Even so, not all forward-wanting statements contain these text. Such ahead-looking statements are subject matter to acknowledged and unfamiliar threats, uncertainties and other components such as risks similar to any improvements to or the outcomes on liabilities, economical ailment, future cash expenditures, income, fees, internet cash flow or loss, synergies and foreseeable future potential clients our incapability to go on to draw in and retain customers and contributors to our on the net marketplace for inventive content material competitive aspects our lack of ability to innovate technologically or create, industry and offer you new goods and providers charges relevant to litigation or infringement claims, indemnification promises and the lack of ability to avert misuse of our content our lack of ability to improve market consciousness of Shutterstock and our merchandise and providers our lack of ability to correctly deal with our progress our inability to mature at historic advancement costs or at all technological interruptions that impair accessibility to our web sites assertions by 3rd events of infringement of intellectual house rights by Shutterstock, our incapability to successfully regulate dangers related with running internationally our publicity to foreign trade rate chance our lack of ability to tackle pitfalls associated with sales to massive company clients governing administration regulation of the net growing regulation similar to the managing of particular facts actions by governments to restrict accessibility to our products and solutions and expert services our inability to correctly broaden our functions into new items, expert services and technologies our inability to shield the confidential facts of prospects elevated tax liabilities connected with our around the globe operations, such as our exposure to withholding, sales and transaction tax liabilities the result of the Tax Cuts and Work opportunities Act of 2017 public health crises together with the COVID-19 pandemic typical economic and political disorders around the globe, such as disruption and volatility triggered by COVID-19 and any resulting financial recession our incapability to properly integrate acquisitions and the related technological know-how and reach operational efficiencies and other things and hazards talked over under the caption “Possibility Things” in our most modern Annual Report on Type 10-K, as perfectly as in other paperwork that the Enterprise may possibly file from time to time with the Securities and Trade Commission. As a result of this kind of challenges, uncertainties and variables, Shutterstock’s true results could differ materially from any future results, functionality or achievements talked about in or implied by the forward-on the lookout statements contained herein. The ahead-seeking statements contained in this press launch are manufactured only as of this day and Shutterstock assumes no obligation to update the details provided in this push release or revise any forward-wanting statements, no matter whether as a end result of new data, upcoming developments or or else, besides as expected by law.

Resource Shutterstock, Inc.

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www.shutterstock.com

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