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Shutterstock history
Shutterstock company history timeline
Shutterstock was founded in 2003 by American entrepreneur and computer programmer Jon Oringer.
The firm branched into film in 2006 with the launch of Shutterstock Footage.
In 2006, the firm claimed that it was the "largest subscription-based stock photo agency in the world" with 570,000 images in its collection.
By 2007, the company had 1.8 million photos.
Shutterstock expanded beyond subscriptions into a la carte pricing in August 2008, with its "On Demand" service removing daily download limits.
On September 23, 2009, Shutterstock announced that it had purchased Bigstock, a rival credit-based microstock photography agency.
Fast Company argued the deal put "Shutterstock on a competitive playing field with Getty, whose iStock Photo is also credit-based." Shutterstock had 11 million royalty-free stock images by early 2010.
In February 2011, it announced a two-year partnership with the American Institute of Graphic Arts (AIGA).
By April 2012 the company had 18 million royalty-free stock images,. The firm announced the Shutterstock Instant tool in May 2012, which displayed images in an interlocking mosaic to increase viewing speed.
In May 2012, Shutterstock filed for an initial public offering on the New York Stock Exchange, which it completed on October 17, 2012, under the ticker SSTK.
Shutterstock, Inc. announced Spectrum, a new "image discovery tool," in March 2013.
In August 2013, Shutterstock and Facebook announced a partnership to integrate Shutterstock's library within Facebook's Ad Creator, allowing advertisers to select from Shutterstock's images when creating ads.
In September 2013, Shutterstock launched Offset, marketplace prioritizing high end curated photos from established artists.
Shutterstock's shares had reached a $2.5 billion market value by the fall of 2013, while revenue for 2013 was US$235 million.
In May 2014, the firm partnered with Salesforce to integrate Shutterstock's image library into Salesforce's Social Studio.
In January 2015, Shutterstock acquired both Rex Features, Europe's largest independent photo press agency for $33 million, and PremiumBeat, a stock music and sound effects service, for $32 million.
Penske Media Corporation formed a partnership with Shutterstock in June 2015 to create and license entertainment and fashion images.
By March 2016, the company had "over 100,000 contributors," with around 70 million images and 4 million video clips available for licensing and sale.
In July 2016, Shutterstock revealed a partnership with Google advertising products including AdSense, AdWords, and AdMob.
The integration allows marketers creating Google ads to directly access Shutterstock images and track ad performance via the Shutterstock API. In October 2016, the firm announced a distribution deal with the European Pressphoto Agency.
In May 2020, the company announced that it will update its contributor earnings structure as of June 1, from a minimum flat-rate to a percentage-based model.
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Shutterstock competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| 2003 | $3.0B | 15,000 | 610 | |
| 2009 | $3.6B | 1,600 | 183 | |
| 1998 | $350.0B | 139,995 | 5,492 | |
| Alphabet | 2015 | $350.0B | 156,301 | 5 |
| Iac/Interactivecorp | 1995 | $3.8B | 8,200 | - |
| Yelp | 2004 | $1.4B | 3,900 | 122 |
| Palantir | 2003 | $2.9B | 2,000 | 336 |
| Crunchbase | 2007 | $9.3M | 238 | - |
| Akritiv | 2009 | - | 10,002 | - |
| eBay | 1995 | $10.3B | 13,300 | 228 |
Shutterstock history FAQs
Zippia gives an in-depth look into the details of Shutterstock, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Shutterstock. The employee data is based on information from people who have self-reported their past or current employments at Shutterstock. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Shutterstock. The data presented on this page does not represent the view of Shutterstock and its employees or that of Zippia.
Shutterstock may also be known as or be related to Shutterstock, Shutterstock Inc, Shutterstock Inc. and Shutterstock, Inc.