SOURCE Shutterstock, Inc.

- Second quarter revenue increased 41% from prior year, to $80.2 million

- Adjusted EBITDA increased 25% to $16.8 million

- Quarterly paid downloads increased 30% to a record 31.5 million

- Collection grew 42%; currently exceeds 40 million images

http://tinyurl.com/mowfcp8

Quote from: gbalex on July 25, 2014, 12:50

Quote from: mojaric on July 25, 2014, 07:18

Quote from: gbalex on July 24, 2014, 15:59

If my father can take the time to speak to both employees and customers as well as run a complex global company with 10,000 employees and $3.1 billion in revenue.

What are you doing here? Playing at "the photographer"? It's better for you and for 10,000 employees that you stop playing with images and think about your real life...

I leave that up to my 5 older brothers, who are a chip off the block. My journey is elsewhere and while I respect my father and brothers, I march to another tune. The biz, is not what floats my boat.

sorry gbalex for the rudeness my post was provocative...but to say that your sounded a little bit like a "show-off"
Going back to peacefull tones what i think is that every company has it's own and different managment. A web-based company, like SS, cannot be matched to a traditional company (i guess like the one that your father runs)...exactly for what you were saying, speaking directly with one person is not like reading forum...managment can't make statements nor changements from 2 or 3 bad post written in few minutes from unhappy contributors

I do see your point and agree that most often keeping ones reality to ourselves is best. However I do think that a reality check is in order when it comes to the effort I see some CEO's putting out. There is no excuse, the points discussed are part of the responsibility of running a company.

In my past life I worked as a IT developer. There is really no excuse at all for Jon not to read the forums & net to see what type of challenges his customers and contributors are having. Part of a owners job is to verify that your management are delivering the end product, to both your customers and to your employees or suppliers as the case may be. 

On the contributor end, a quick read in the bug forum will show you that there are long standing concerns that they continue to ignore. If this were minor bugs I would not say anything. However there are serious issues that they simply fail to address. It has become clear that Jon simply does not care about his contributors and I think it is well past time to address the issue.

Quote from: mojaric on July 25, 2014, 07:18

Quote from: gbalex on July 24, 2014, 15:59

If my father can take the time to speak to both employees and customers as well as run a complex global comany with 10,000 employees and $3.1 billion in revenue.

What are you doing here? Playing at "the photographer"? It's better for you and for 10,000 employees that you stop playing with images and think about your real life...

He's so rich he doesn't need to work it makes microstock is a good way to pass time and educate all us low life common people.
Does SS care? Why? People take 28 cents for work that costs much more to shoot. You make under minimum wage. Worst of all SS is the best place by 3 times and you ask if they care. They pay the best, don't cheat us, and what does that make the rest? Do any of them care?

Dude maybe your family would pay your way forward, but in mine they expect you to stand on your own two feet. There are no free rides in this world and I have been completely on my own since I was 18. Paid for two degrees by working summers fishing in Alaska. If you want to make something of yourself there are plenty of ways to do it, rather than relying on family to prop you up. 

I  am no different than anyone here and certainly do not feel I am better than any man on this earth. In fact that is my point, every man and women here should be paid a fair rate for their work, there is no reason that a handful of people should be taking the lions share of the pie, while failing to hold up their end of the bargain. I was brought up in opposition of elitist ethics and that is the very reason my family is successful, they make it a win win for everyone and not just a chosen few. 

Scott Braut comes to this forum alot, like he did above.  I don't agree that SS does not stay in touch.  This thread seem more venting than constructive. 

For gbalex dad, I wish the world still run that way and good for him. But if you are adult over, say 20, the world changed a lot since back then.  CEOs spend more time worrying about shareholders than low level employees or independent contractors like us.

He and his company are still in operation, he is in his 60's and still working, still making the rounds. And he is not alone; there still plenty of companies that care about their employees, suppliers and customers. Greed may have become rampant, but fortunately it no where near as common, as it is in microstock.

And yes Scott popped in, however his comments did not address the issues that many contributor are legitimately experiencing at shutterstock. I do not see how platitudes & denial will help anyone, including shutterstock.

Quote from: gbalex on July 24, 2014, 14:49

Jon and the entire world have access to the shutterstock boards.

DISAGREE AGAIN

CEO don't have the time to come read the forum. at least the CEOs i worked for. they don't have the time to come even to sit with you in the canteen.
if you want to talk to Oringer, then maybe go to his tweeter or wherever he has a site to talk directly.
i don't know where, but once again,
NEVER ASSUME.

I know I will get flak for this. It is a simple choice.  My father runs a fortune 200 company. I can guarantee you he makes the choice to stay in contact with low level employees and customers. When I was a little kid I visited satellite locations and I watched him consistently speak to and listen to the lowest level employees. He took and still takes the time, to get to know a few of them each time he visits at satellite offices around the world. He makes the choice to find out what is working well, what is not, how employees as well as customers are being treated etc.

He also makes it well known to them that if they have a good idea that will improve company, product or working conditions; he wants to hear about it and will implement those ideas as well as reward them.  At this time he has over 10,000 employees in locations all over the world.

It is a choice plane and simple.

I read today on SS that someone mentioned SS have a newsletter. Very good Idea since they don't wanna acknowledge Bugs or questions. And yes, Of course SS is the best Yada Yada. But could be better.

The newsletter is shutterstock patting themselves on the back promotional material. Along with some information to guide and improve shutterstock content. You will never see them acknowledge or address the numerous issues that many people are experiencing with the site or with rejections.

I think etudiante_rapide makes a good point the reviews are most likely regional. As a matter of fact if you look at the job board they advertize for reviewers by country. I do not have a problem with rejections, however some of my friends do and their work and content, is of much higher quality than some here, who are preaching up the quality of your work etc.

Shutterstock does have review and site issues and if you are not experiencing issues count yourself lucky. It is no reason to become full of yourselves and throw those who are not so unfortunate under the bus.

Consider that most buyers will never visit nor report site accessibility issues and read the reply's here. You are in denial if you think the site is not having longstanding issues on the buyer and contributor end.

http://www.isitdownrightnow.com/shutterstock.com.html

Deyan, it's hard to see how DPC can be good for contributors in the short or long term. By leaving your files at DPC you are effectively telling Fotolia that you are OK with the direction they are taking the industry. If you removed your files you would be offering solidarity with contributors and sending a clear message to DPC.

If we little boats gather together on the ocean and utilise only the wind of the supportive agencies then we'll likely have a sustainable industry for longer...

Outstanding post

Quote from: cobalt on July 18, 2014, 05:10

They started out with just 500k. Look at what they built! That is a really beautiful, sustainable and well managed business. They have proven they are careful with money, so I am sure they will put the new capital to good use. They said they want to double their staff etc...so this gives me a lot of confidence they will grow. I�ll definetly make sure my pictures go there as well.

I agree with you. I do sincerely hope pond5 uses the money wisely and fights for its contributors. My trepidation as I've previously posted is that I've not seen a vc ever do anything for suppliers but gouge them. Money is a powerful influencer and a mean source of power. Generally vc's don't invest money for the long haul, they want a specific kind of return in a specific timeframe at any cost and that is primarily why I have a slight skeptical tone. I am speaking "in general" based on my personal experiences with vc, what happened at Istock, etc.

There is a timeframe for "Return On Investment" and I am sure the VC's watched &  liked the fast leap to IPO at Shutterstock. Venture capital firms, are not in the business of funding inventors or inventions, they are in the business of funding fast-growing companies.

Considering the first three years as initial investments, a company could only have a 4 to 7 years to "hit meaningful stride", before the VC's expect their investment to leap to IPO or fat ROI. At shutterstock the Vc's promptly put key executives and systems in place to manipulate contributor earnings to drive up revenue at contributor expense. I am sure they view earnings tiers as a vehicle to drive up stock prices with glee.

Quote from: gbalex on July 16, 2014, 19:26

Strewth, just what we need, more bloody VC's to bleed us dry.

That was my very first thought. Those people are the human version of vultures....vulture capitalists is more like it.

I have been through vc transactions in my career and it is ALL ABOUT THE MONEY THEY GET.

Completely agree it is all about money. As a very rough estimate, shutterstock's annual revenue last year was $235,515,000 and in their earnings call they stated that contributor royalties, made up approximately 28% of revenue. That would be aprox $65,944,200

Insight Venture Capitol granted its self millions of shares of SSTK stock at a cost of $0.00

I have not been keeping close track of shares sold, but have recorded that they sold at the very least 7,276,276  SSTK shares in 2013 & 2014

Lets say they sold them at an average prive of $85.00 per share. That would be $618,483,460 for Insight Venture Partners alone vs $65,944,000 revenue for all shutterstock contributors combined.

That does not even include SSTK stock shares sold by the key executives that Insight Venture Partners put in place at shutterstock prior to the IPO. I can't bring myself to add them up right now, but you can bet the exec totals, dwarf contributor royalties. 

http://www.microstockgroup.com/shutterstock-com/shutterstock-cfo-dumps-13-of-his-stock-friday-june-20-2014/

Quote from: gbalex on July 16, 2014, 01:44

Quote from: Reckless on July 15, 2014, 21:00

.

Quote from: Reckless on July 15, 2014, 21:00

Wasted enough time with you already.

I saw your first post and will leave you to your unsubstantiated   .

What would be a great leap of faith and a real message to contributors might be if SS were to look at their sg&a and commit to shareholders that we are going to reduce that by 10 percent and redirect that savings to our contributors. At least they are not merely shaving profits to make this happen, rather using pragmatic waste reduction mentality to cut costs that amount to nothing but muda.

In a perfect world SGA and a commitment to bring fair returns to contributors would be a priority.

Does anyone have a dollar value for total royalty payout to contributors this year?

I wonder if it will come any where near what the few key shutterstock insiders and Insight Venture capitol will be bringing in on option grants & stock sales alone this year?

It would be an interesting ratio

Most of us read this information on the wsj. We don't copy the info and spread it all over photography forums.

Please feel free to provide a link on the wsj, that discloses Form 8-K - amended stock trading plans.

Form 8-K for SHUTTERSTOCK, INC. 9-Jul-2014

Other Events Item 8.01 Other Events.

James Chou, the Chief Technology Officer of Shutterstock, Inc. (the "Company") has informed the Company that, as of June 12, 2014, he amended his previously-announced pre-arranged stock trading plan to sell shares of the Company's Common Stock. Mr. Chou's trading plan is designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934.

Mr. Chou advised the Company that his amended stock trading plan provides for selling up to 39,750 shares (subject to, among other things, the volume limitations imposed by applicable securities regulations), which represents approximately 27% of his current holdings of the Company's Common Stock and options to purchase Common Stock.

The amended stock trading plan provides for sales of specified share amounts at specified market prices, subject to certain limitations. Sales pursuant to the amended stock trading plan are expected to begin as early as August 11, 2014 and will end no later than December 31, 2014. The amended stock trading plan may terminate sooner in accordance with its terms.

Mr. Chou has informed the Company that his sale of shares is being done for asset diversification, tax and estate planning, and charitable giving purposes.

In accordance with Rule 10b5-1, officers and directors of a public company may adopt a plan for selling stock of the public company. The plan may be entered into only when the officer or director is not in possession of material, non-public information about the company. The stock transactions under this plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. Except as may be required by law, the Company does not undertake to report on specific Rule 10b5-1 pre-arranged stock trading plans of Company officers, nor to report modifications or terminations of the aforementioned 10b5-1 Plan or the plan of any other individual.

http://biz.yahoo.com/e/140709/sstk8-k.html