|Type of business||Subsidiary|
|Headquarters||Redwood City, California|
|Owner||Apollo Global Management|
|Key people||William Lansing|
(Chairman of the Board)
(President & CEO)
(Senior VP & CFO)
|Industry||Photograph-derived manufacture; photo sharing|
|Revenue||US$1.961 billion (2018)|
|Operating income||US$115.54 million (2018)|
|Net income||US$50.37 million (2018)|
|Total assets||US$2.302 billion (2018)|
|Total equity||US$674.37 million (2018)|
|Alexa rank||1,975 (As of 19 March 2019[update])|
Shutterfly, Inc. is headquartered in Redwood City, California, and specializes in personalized products and services owned by Apollo Global Management. Founded in 1999, Shutterfly, Inc. has three divisions: Shutterfly Consumer, Lifetouch, and Shutterfly Business Solutions. Shutterfly Consumer and Lifetouch help consumers capture, preserve, and share life’s important moments through professional and personal photography, and personalized products. The Shutterfly brand brings photos to life in photo books, gifts, home décor, and cards and stationery. Lifetouch is the national leader in school photography, built on the enduring tradition of “Picture Day”, and also serves families through portrait studios and other partnerships. Shutterfly Business Solutions delivers digital printing services that enable efficient and effective customer engagement through personalized communications. The company is currently led by Ryan O'Hara. The company went public in 2006, and returned to private ownership in 2019.
Shutterfly enables users to create personalized photo gifts (including photos and text) such as smartphone cases, photo books, wall art, and home décor. It competes with Snapfish, and other online photo services. In 2019, Shutterfly serves 10+ million customers with 26+ million orders per year, and hosts more than 50 billion photos on its photo storage platform.
Shutterfly has also partnered with Brit Morin, Michelle Workman and Olivia Palermo to showcase how to use their different products within a New York townhouse to create unique design opportunities. The project is called “Shutterfly by Design.”
Lifetouch is the national leader in school photography, serving 10+ million total households. Lifetouch photographs 25+ million students in 50+ thousand schools, including 1 million new kindergartners each year. Additionally, Lifetouch Portrait Studios leads the company’s retail presence in JCPenney Portraits studios photographing newborns, special events and occasions, individuals and families; Lifetouch Church Photography connects church membership through photography products and services; and Lifetouch Preschool Photography is the nation’s preferred provider of infant and toddler photography.
In the fiscal year ending December 31, 2018, Shutterfly Inc. delivered $1.96 billion in net revenue, made up of $972 million from Shutterfly, $799 million from Lifetouch and $231 million from SBS. The company delivered $385 in adjusted EBITDA.
Shutterfly was founded in December 1999 as an internet-based social expression and personal publishing service. Its corporate headquarters are located in Redwood City, California. The company's flagship product is its photo book line.
In 2000, Shutterfly partnered with Kodak to offer their customers film developing and scanning services. In 2012, Shutterfly acquired Kodak Gallery from the Eastman Kodak Company for $23.8 million.
In 2001, Shutterfly secured $3 million in incremental capital which was used to expand its infrastructure. The funds include an equipment financing line from Silicon Valley bank. In 2002, the company exceeded its expected earnings and began considering an IPO for 2004 however, it did not take place until 2006. In September 2006, they completed their initial public offering and their common stock was officially listed on the NASDAQ Global Select Market under the symbol “SFLY."
In 2007 Shutterfly was recognized by Deloitte & Touche as Fast 50 Technology Company for Silicon Valley and a Fast 500 Company for North America. Shutterfly ranked #20 in the Internet, Media & Entertainment and Communication category on the Fast 50 list and ranked #241 on the Fast 500 list. The annual rankings identify technology, media, telecommunications and life sciences companies that have shown the fastest growth over the past year. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002 to 2006. Shutterfly grew 671 percent during this period.
In 2009, Shutterfly began its acquisition plans with the purchase of Tiny Pictures, a mobile photo-sharing application centered on photo commenting. This is the first of several acquisitions the company made over the next few years. In 2011, Shutterfly acquired Tiny Prints, Inc. and Wedding Paper Divas. In 2013, the company acquired This Life, a cloud-based solution for organizing and sharing photos and videos. In 2013, Shutterfly acquired BorrowLenses, a rental company for high-end photography equipment. In 2018, Shutterfly acquired Lifetouch for $825 million.
On June 10, 2019, Apollo Global Management announced that it would acquire Shutterfly for $2.7 billion, as well as its competitor Snapfish in a separate transaction valued at around $300 million. Apollo plans to merge both companies into a single entity, with Snapfish parent company District Photo as a minority stakeholder. On September 25, 2019, Apollo's acquisition of Shutterfly was completed, while the proposed merger of Shutterfly and Snapfish was still in process.
Tiny Prints and Wedding Paper Divas: In March 2011, Shutterfly acquired personalized card and stationery seller Tiny Prints, Inc. and partner-company Wedding Paper Divas for $141 million in cash and 3.9 million shares. The total transaction was valued at $333 million. The company has received multiple celebrity endorsements including Kelly Ripa, Jason Priestley, and Tori Spelling. Their products have also been highlighted on the Rachel Ray Show and InStyle Magazine. Wedding Paper Divas has been highlighted on ABC News. In September 2014, the company launched “Tiny Prints for iPad” in September 2014; a mobile version of their online stationery boutique the company acquired in 2011. TinyPrints products are currently available in the TP Boutique as a standalone tab on shutterfly.com, or via tinyprints.com. Shutterfly also currently offers a Wedding Shop within Shutterfly.com that provides end-to-end products and inspiration for the Big Day.
This Life: In 2013, Shutterfly acquired ThisLife, a cloud-based solution for organizing and sharing photos and videos. ThisLife initially launched in 2010 by husband-and-wife team Matt and Andrea Johnson. ThisLife has raised a $2.75 million seed round led by Madrona Venture Group, with Madrona Managing Director Greg Gottesman joining its board. The company was acquired by Shutterfly in January 2013 and the purchase was reported to cost $25 million. ThisLife lets you pull in all your photos from different sources such as social networks, mobile devices, personal computer, or stored online into one place. The company transitioned This Life into the all-new Shutterfly Photos platform in 2016.
Treat: In April 2012, Shutterfly Launched Treat, a service to create completely customized greeting cards. Unlike other divisions of Shutterfly that were acquired, Treat was developed internally. The site has 4,500 fully customizable card designs and has a partnership with Hallmark. In February 2015, Shutterfly announced it would shut down Treat.
BorrowLenses: Mark Gurevich and Max Shevyakov launched BorrowLenses in 2007 as a way for individuals to rent high-level camera equipment and avoid making an expensive purchase. The company delivers to all 50 states and offers over 30 “pick-up” locations at local camera shops in 12 different states. The company has two headquarters in San Carlos, California and Waltham, Massachusetts. In October 2013, Shutterfly acquired BorrowLenses. Terms of the deal weren't released.
- On September 14, 2009, Shutterfly acquired Tiny Pictures (mobile photo-sharing application centered on photo commenting).
- On March 21, 2011, Shutterfly announced that it was acquiring Tiny Prints. The acquisition was completed on April 25, 2011.
- On January 7, 2013, Shutterfly acquired ThisLife (Photo sharing).
- On March 1, 2012, Eastman Kodak agreed to sell Kodak Gallery to Shutterfly for $23.8 million.
- On April 30, 2013, Shutterfly acquired MyPublisher.
- On August 29, 2013, Shutterfly acquired R and R Images.
- On October 24, 2013, Shutterfly acquired BorrowLenses.com.
- On November 17, 2014, Shutterfly acquired GrooveBook, a photo-printing app that appeared on Shark Tank in 2012.
- On April 2, 2018, Shutterfly acquired LifeTouch for $825 Million.
- On June 10th, 2019, it was announced that Shutterfly is being acquired by private equity firm Apollo Global Management in a deal valued at $2.7 billion. Apollo's acquisition of Shutterfly was completed on September 25, 2019.
- Accessible publishing
- Alternative media
- Article processing charge
- Author mill
- Custom media
- Dynamic publishing
- Independent music
- List of self-publishing companies
- Offset printing
- Online shopping
- Predatory open access publishing
- Print on demand
- Self Publish, Be Happy
- Self publishing
- Small press
- Vanity award
- Vanity gallery
- Vanity label
- Vanity press
- Vanity publishing
- Variable data printing
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