Blog | March 3, 2014

Shutterstock to Acquire Webdam

by rselvey in Events, Webdam Updates

Today, Webdam is thrilled to announce that we have signed a definitive agreement to be acquired by Shutterstock! This is very exciting news for our staff, customers, and partners worldwide.

Webdam will be an independent business unit of Shutterstock and will continue to operate out of our Silicon Valley based offices. Webdam will continue to be Webdam, remaining loyal to our distinct brand identity and global customer base, and led by our current leadership team.

This is a momentous day for our customers and the entire Webdam family.  Partnering with Shutterstock will allow us to fulfill our vision for Webdam even faster by investing in our product and team, and by benefiting from Shutterstock’s global capabilities. Shutterstock shares Webdam’s focus on meeting the needs of creative and marketing teams around the world and is committed to supporting Webdam’s mission: to help brands grow, thrive, and succeed.

From today’s press release :

“Like Shutterstock, Webdam is an innovative technology company trusted by some of the world’s leading brands”, said Jon Oringer, Founder and CEO of Shutterstock.  “We are excited to join with Webdam’s talented team to deepen our relationship with large organizations and to make it easier than ever for marketing and creative teams to do their best work.”

We would like to thank Shutterstock and our partners for their support and for believing in our shared vision. And of course, we would like to thank each one of our Webdam customers — without whom this would not be possible.  We are excited to empower your success with even more gusto.

Yours truly,

Jody Vandergriff

CEO and Co-Founder

Questions & Answers Regarding the Acquisition

Why does Shutterstock want to acquire Webdam?

Shutterstock believes in our technology, talented team, vision, and momentum.

Like Webdam, Shutterstock is focused on addressing the needs of large companies, agencies and media organizations. The acquisition of Webdam will allow Shutterstock to deepen its relationship with marketing and creative teams and serve a broader range of their needs.

What’s next for Webdam?

Going forward it will be business as usual, only better and with more resources. Shutterstock and Webdam are equally committed to continuing to invest in innovation and to providing the best DAM platform in the industry. With the power of Shutterstock behind us, we are more confident than ever in Webdam’s future and in being the top choice for managing creative files and workflows.

Will there be any changes to the product?

In the coming months, we will be offering various levels of integration between our respective products for our customers.  This is an optional offering for those interested in leveraging both products.  In other areas, we will continue to innovate and grow our core cloud-based digital asset management platform with the continued mission of simplifying and improving creative and marketing workflows end-to-end.

Will Webdam HQ remain in Silicon Valley?

Yes and we will continue to keep growing here. In fact, we’re hiring and expanding right now in Silicon Valley.

Will Webdam customers have to become Shutterstock customers?

No.  As  an independent business unit, Webdam will not require customers to use Shutterstock.  We of course encourage exploring Shutterstock’s library of images, vectors and videos, which is among the largest and freshest of its kind.

Can I continue to store and manage stock imagery from other sources in Webdam??

Yes. As part of our mission to support the needs of all marketing and creative teams, Webdam provides digital asset management for diverse types of files, irrespective of their source.

Why are we joining Shutterstock?

We weren’t looking to sell, nor do we even need to.  But at Webdam, we believe it’s our duty to always seek out opportunity to innovate, grow and bring more value to our customers. With the power of Shutterstock behind us, Webdam will be able to do just that — innovate even faster while serving a broader audience than ever before.

After considering our options, it was clear Shutterstock was the best fit.  Webdam’s brilliant team is passionate about our mission and technology.  We see Shutterstock as a talented, forward-thinking, culturally-aligned and exciting company that complements our team, technology and culture very well. We both believe in our mission and are dedicated to its success.

Get to Know Shutterstock

Shutterstock, Inc. (NYSE: SSTK), is a leading global provider of high-quality licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 55,000 contributors, Shutterstock adds tens of thousands of images each week, and currently has more than 33 million images available.

Headquartered in New York City, with offices in Berlin, Chicago, Denver, London, and San Francisco, Shutterstock has customers in more than 150 countries. The company also owns Bigstock, a value-oriented stock media agency; Offset, a high-end image collection; and Skillfeed, an online marketplace for learning.