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Shutterstock Files For IPO, Hoping To Raise $115 Million

Shutterstock is one of the most popular commercial photography services online. It was founded back in 2003 and has steadily gained traction and a lot of customers. During the year 2011, the company was able to achieve a gross revenue of $120 million out of which, the profit fared at $21.9 million. Now, the company is planning to go forth with an initial public offering.


The company has already filed for an IPO and is hoping that it may be able to get a solid $115 million by going public. It will be listed as part of the  New York Stock Exchange.

Shutterstock is currently one of the most successful commercial photography services. It claims to host one of the largest digital content libraries online with its 19 million photographs and illustrations. The company also offers videos from its 500,000-videos strong collection which comes from as varied sources as 35,000 contributors.

During the year 2011, customers thronged the website and recorded a massive 58 million downloads! This translated to some huge money since an average photograph on the website costs some $3.

According to the company, its paying customers number in more than 550,000, which is definitely a lucrative number and may impress a lot of prospective investors once the company goes public.

Source: SEC

Courtesy: TechCrunch

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