Shutterstock

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Shutterstock
Type Public
Traded as NYSESSTK
Industry Stock photography and Stock footage
Founded 2003
Founder(s) Jon Oringer
Headquarters Empire State Building
350 Fifth Avenue
New York City
, United States of America
Key people Jon Oringer, (Founder, CEO), Thilo Semmelbauer, (President, COO), Tim Bixby, (Chief Financial Officer), Jim Chou, (Chief Technology Officer), Miles Williams, (VP of Marketing), Meagan Kirkpatrick (Public Relations)
Website shutterstock.com

Shutterstock, founded in 2003 by Jon Oringer, is a stock photography agency headquartered in New York City, New York, United States. [1] Shutterstock maintains a library of 30 million royalty-free stock photos, vector graphics, and illustrations,[2] and 1 million video clips for license.[3]

Shutterstock licenses images and video clips on behalf of photographers, designers, illustrators, and videographers, adding 20,000 new images a day from 55,000 contributors in 150 countries, as of 2014. [1]

Shutterstock is publicly traded on the New York Stock Exchange. [4]

History[edit]

Shutterstock was founded in 2003 by Jon Oringer. Oringer uploaded 30,000 of his own stock photos and made them available via subscription, forming the basis of the company.[1] This method has also been used by other stock photographers.

Originally a subscription site, Shutterstock expanded beyond subscriptions into a la carte pricing in August 2008.[5]

On September 23, 2009, Shutterstock announced that it had purchased rival site Bigstock, a credit-based microstock photography agency.[6]

In February 2011, Shutterstock announced a two-year partnership with the AIGA, to provide creative inspiration to its members.[7] One year later, Shutterstock surpassed 200 million stock image downloads, making it the first stock agency to claim such a milestone.[8]

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.[9][4]

In 2013, Shutterstock also opened offices in London and Berlin.[10] [11] As of 2013, the site was available in 20 languages including French, Italian, Portuguese, Spanish, German, Russian, Chinese, Japanese, and Korean.[12]

Contributors[edit]

Contributing photographers must apply before they are eligible to upload their images. The applicants must submit 10 pictures that are screened for quality and suitability. At least seven pictures must be approved for the contributor account to become active. Each image is reviewed by hand by Shutterstock's team of reviewers.

Once approved, contributors can begin uploading their work through the website. They supply keywords, categorize the images, and submit them to the "inspection queue", where each and every image is examined to ensure that it meets the standards of quality, usefulness and copyright and trademark laws. Each time an image is downloaded, the photographer receives a flat rate of 25c (with a tiered set of raises as the contributor reaches lifetime earnings of $500, $3,000, and $10,000, respectively).[13][14][15]

Footage[edit]

Shutterstock began selling stock video in February 2006, the first site of its kind to do so.[16] Shutterstock Footage operates similarly to their image library, offering video clips by subscription or on a per-clip basis. Shutterstock footage is available in a variety of formats, including DVCAM, HDCAM and Betacam.[17] Today, Shutterstock Footage contains over 1 million royalty-free video clips.[18]

Shutterstock Apps[edit]

Shutterstock for iPad was launched in November 2011,[19] followed in 2012 by a universal iOS app[20] and in 2013 by an Android App.[21]

In May 2012, Shutterstock for iPad received a Webby Award for People's Voice in the tablet app category for utilities and services.[22]

Shutterstock Labs[edit]

In 2012, Shutterstock launched Shutterstock Labs, a site which contains Shutterstock Instant and Shutterstock Spectrum. Both are search tools developed to improve search functionality for Shutterstock customers. [23] [24]

See also[edit]

External links[edit]

References[edit]

  1. ^ a b c Steven Bertoni, "Silicon Alley's First Billionaire Aims To Dominate Images On Web", Forbes, October 28, 2013
  2. ^ "Shutterstock Celebrates 30 Million Images in its Collection and 350 Million Images Licensed", Shutterstock Press Release, October 28, 2013
  3. ^ "Shutterstock Surpasses 1 Million High-Quality Video Clips", Shutterstock Press Release, May 10, 2013
  4. ^ a b "Shutterstock Celebrates IPO on the NYSE", NYSE Press Release, October 17, 2012
  5. ^ "Shutterstock Launches New "On Demand" Subscription to Serve Full Spectrum of Stock Image Buyers", Shutterstock Press Release, August 5, 2008
  6. ^ Stephen Shankland "Shutterstock Buys Rival, Shifts Photo Sales Strategy", CNET, September 23, 2009
  7. ^ "AIGA partners with Shutterstock to provide creative inspiration to members", Shutterstock Press Release, February 15, 2011
  8. ^ "Shutterstock Surpasses 200 Million Image Downloads - Celebrates with Global Design Trends Infographic", Shutterstock Press Release, February 1, 2012
  9. ^ "Form S-1, Shutterstock, Inc.", SEC.gov
  10. ^ "Shutterstock Opens First International Office in London", Shutterstock Press Release, August 15, 2013
  11. ^ "Shutterstock Opens European Headquarters in Berlin, Germany", Shutterstock Press Release, October 31, 2013
  12. ^ "Shutterstock Continues to Meet Demand for High Quality Imagery in Asia and Launches Website in Korean and Thai Languages", Shutterstock Press Release, August 8, 2013
  13. ^ Eric A. Taub, "When Are Photos Like Penny Stocks? When They Sell", New York Times, June 5, 2007
  14. ^ Kate Torgovnik "Make Money", Time Out NY, January 22, 2009
  15. ^ Taylor Buley, "A Snappy Way to Make Money In Stock", Forbes, September 2, 2008
  16. ^ "Introducing Shutterstock Footage - A Stock Video Resource from Shutterstock", Shutterstock Press Release, February 9, 2006
  17. ^ Tom Skowronski, "Shutterstock Footage", Videomaker, November 4, 2008
  18. ^ "Shutterstock Surpasses 1 Million High-Quality Video Clips", Shutterstock Press Release, May 10, 2013
  19. ^ Brad McCarty, "Shutterstock brings its 16 million images to the iPad with a dedicated app" The Next Web, November 3, 2011
  20. ^ "Shutterstock Announces Universal iOS App", Shutterstock Press Release, November 6, 2012
  21. ^ Martin Bryant, "Shutterstock launches an Android app to let you browse its 31m+ images on the move", The Next Web, December 10, 2013
  22. ^ "Shutterstock for iPad Won a Webby!", Shutterstock Blog, May 1, 2012
  23. ^ "Shutterstock Re-imagines Image Search with a New Discovery Tool: Shutterstock Instant", Shutterstock Press Release, May 31, 2012
  24. ^ "Shutterstock Introduces Spectrum, A Breathtaking Way To Explore Millions Of Photos Using Color", Shutterstock Press Release, March 21, 2013