These design and editing features represent a natural extension of Shutterstock's content offering.Ĭonsideration for the transaction consists of USD 110m of cash paid at closing and the acquisition is expected to be immediately accretive to Adjusted EBITDA and Adjusted Net Income.ĬapM Advisors acted as financial advisor, and Sheppard Mullin acted as legal advisor to Shutterstock.
#Shutterstock seattlebased picmonkey 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 element of Shutterstock's workflow solutions, empowering creatives, business owners and marketers to design with ease.
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. (NYSE: SSTK) has acquired online graphic design and image editing platform PicMonkey, the company said.Īccording to Shutterstock, PicMonkey enables creators to design visual assets, from presentations, advertisements and logos, to business cards and banners, for an range of use cases, including digital marketing, advertising, and social media posts.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 range of channels. (NYSE: SSTK), a leading global creative platform offering full-service solutions, high-quality content, and applications for brands, businesses and media companies, today. US-based creative platform Shutterstock, Inc. Image: aul Witterick/REX Shutterstock/Associated Press.
#Shutterstock seattlebased picmonkey software
APA style: Shutterstock Acquires Creative Design Platform PicMonkey. Jonathan Sposato, a Seattle-based entrepreneur and the CEO of photo editing software PicMonkey.Shutterstock Acquires Creative Design Platform PicMonkey." Retrieved from MLA style: "Shutterstock Acquires Creative Design Platform PicMonkey." The Free Library.
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