NEW YORK, July 22, 2024 /PRNewswire/ -- Shutterstock, Inc.
(NYSE: SSTK), a leading global creative platform offering
high-quality creative content for transformative brands, digital
media and marketing companies, completed its previously
announced acquisition of Envato Pty Ltd. ("Envato"), a leader
in digital creative assets and templates.
Strategic Highlights:
- Complements Shutterstock's existing offering with Envato
Elements, a leading unlimited multi-asset subscription
offering
- Expands Shutterstock's reach within faster growing audiences
such as freelancers, hobbyists, small businesses and agencies
- Adds 650k subscribers, more than
doubling Shutterstock's subscriber base to 1.15 million
- Increases Shutterstock's Content revenue from video, audio,
graphics, fonts and templates
- Bolsters Shutterstock's content library with 10 million images,
6 million videos, 1 million audio clips, 0.5 million templates and
0.2 million graphics & fonts
- Further diversifies Shutterstock into new content types
including code & web themes, product mock-ups, fonts and
templates (e.g. Slides, PowerPoint, Keynote, WordPress, video,
designs for social posts, gaming, podcasts and
print-on-demand)
- Deal completion coincides with the launch of Envato's new
visual brand identity, currently in a phased rollout across the
site, which marks a significant milestone in the company's
evolution and commitment to creatives
ABOUT SHUTTERSTOCK
Shutterstock, Inc. (NYSE: SSTK) is
a leading global creative platform offering high-quality creative
content for transformative brands, digital media and marketing
companies. Fueled by millions of creators around the world, a
growing data engine and a dedication to product innovation,
Shutterstock is the leading global platform for licensing from the
most extensive and diverse collection of high-quality 3D models,
videos, music, photographs, vectors and illustrations. From the
world's largest content marketplace, to breaking news and A-list
entertainment editorial access, to all-in-one content editing
platform and studio production services—all using the latest in
innovative technology—Shutterstock offers the most comprehensive
selection of resources to bring storytelling to life.
Learn more at www.shutterstock.com and follow us on
LinkedIn, Instagram, X, Facebook and YouTube.
FORWARD-LOOKING STATEMENTS
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact are forward-looking. Examples of
forward-looking statements include, but are not limited to,
statements regarding the acquisition, guidance, industry prospects,
future business, future results of operations or financial
condition, new or planned features, products or services,
management strategies and our competitive position. You can
identify forward-looking statements by words such as "may," "will,"
"would," "should," "could," "expect," "aim," "anticipate,"
"believe," "estimate," "intend," "plan," "predict," "project,"
"seek," "potential," "opportunities" and other similar expressions
and the negatives of such expressions. However, not all
forward-looking statements contain these words. Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that could cause our actual results to differ
materially from those expressed or implied by the forward-looking
statements contained herein. Such risks and uncertainties include,
among others, those discussed under the caption "Risk Factors" in
our most recent Annual Report on Form 10-K, as well as in other
documents that the Company may file from time to time with the
Securities and Exchange Commission. Factors related to the
transactions discussed in this document that could cause actual
results to differ materially from those contemplated by the
forward-looking statements include: the effects of disruption to
our or the target's respective businesses; the impact of
transaction costs; our ability to achieve the benefits from the
proposed transaction; our ability to effectively integrate the
acquired operations into our operations; our ability to retain and
hire key target personnel; and the effects of any unknown
liabilities. As a result of such risks, uncertainties and factors,
Shutterstock's actual results may differ materially from any future
results, performance or achievements discussed in or implied by the
forward-looking statements contained herein. The forward-looking
statements contained in this press release are made only as of this
date and Shutterstock assumes no obligation to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as required by law.
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