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Messages - gbalex

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426
I would never consider exclusivity with shutterstock, I now make more at DT & FT and even 123 is gaining on them.

So the behavior of the other agencies isn't even a consideration?

More censorship?

I responded to the question above and posted factual information to back up why I feel the way I do about many of the agencies, including shutterstock. That is not off topic.

I also let people know why I posted factual information and explained why these facts would lead me not be choose to go exclusive with shutterstock or any other agency. 

Back to the regularly scheduled programming, the sanitation here smacks of agency protectionism.   
 

427
Yet "we" opted out almost 7 million images from DPC.  8)


Only if you believe that all 7 million are because of DPC, not people leaving or being closed. You have no proof for your claim. What is it now?


The evidence is recorded here1: http://www.microstockgroup.com/fotolia-com/fotolia-d-day-%28deactivation-day%29-may-1/msg385153/#msg385153, being the difference on the date of the post (almost 7 million) between files on Ft and those on DPC, so clearly the people hadn't left or being closed on Fotolia. Of course, others may have left Fotolia too, some because of DPC.

1(Oddly, I can't see the number posted on DPC just now, though I could before.)


Yes the evidence is there and yet we keep hearing from the fatalist that nothing can be done to protect our interests. If sales continue to drop at SS and other sites I am sure those numbers will continue to rise.


428
Good info, GBalex, if not particularly pleasant to see.

I agree, it is not pleasant, however it helps to know who you are dealing with when making long term business decisions.

Note I updated the shares sold totals. Insight Venture Partners uses various names and I excluded sales from all key insider executives.

For Insight Venture Partners alone in its various renditions, as of June 2014 the total shares sold totals over 12,301,132 shares. There could also be more out there that I've overlooked.

429
Dreamstime.com / Re: Have DT sales slumped?
« on: June 30, 2014, 09:11 »
My sales are improving at DT

430
I would never consider exclusivity with shutterstock, I now make more at DT & FT and even 123 is gaining on them.

431
Updated info

For Insight Venture Partners alone in its various renditions, as of June 2014 the total shares sold totals over 12,301,132 shares. This does not include key executive insider trades. There could also be more out there that I've overlooked they use multiple names & the holding company.

Shares Sold

Date                 Name                                                 Shares Sold @ $85
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     127,285         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     750,000         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     333,331         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     92,654         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     17,993         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     306,022
                                                          Total Shares   1,627,285
Value $138,319,225

Date    SSTK Sold
6/12/2014   1,627,285
2/27/2014   2,174,421
1/21/2014      405,568
1/16/2014   2,703,784
9/25/2013   3,220,000
5/21/2013   2,170,074

Total Shares Sold   12,301,132

http://www.secform4.com/filings/1549346/000114036114025822.htm
http://www.secform4.com/filings/1549346/000114036113022555.htm
http://www.secform4.com/filings/1549346/000114036114010620.htm
http://www.secform4.com/insider-trading/1549346.htm

http://www.secform4.com/insider-trading/1549346.htm
Date                 Name               Shares            Value
2013-09-25 INSIGHT VENTURE    3,220,000    $193,200,000

2014-06-12 Insight Holdings Group, LLC
1,500,000    $25.25    $37,875,000

2014-01-21 Insight Holdings Group, LLC
405,568    $35.5    $14,397,664

2014-01-16 Insight Holdings Group, LLC
2,703,784    $35.5    $95,984,332

432
Yet "we" opted out almost 7 million images from DPC.  8)

As sales deteriorate those numbers will go up!

433
Shutterstock.com / Re: Sales on Shutter
« on: June 27, 2014, 10:39 »
Best Month Ever = newbie response
Worst Month Ever = veteran response

I've finally come to accept that it's virtually impossible for an ms vet to get past the dreaded wall, and here's why...

If a newbie has a port of 50 images one month, and 100 the next, his/her port size went up 100%.
In that same month, the total images on any given site went up from, say, 25 to 26 million images, an increase of 4%.  As long as the rookie's percentage rate of port increase beats the total image percentage of increase, he/she can see fantastic growth.

But if a veteran has a port of 5000 images one month and 5,100 the next, his/her port size went up  just 2%.  Compared to the 4% monthly growth in total images available on the agencies, the ms vet is going backward, and will see less money each month.

That does not explain the large drops "which occur overnight" and then continue for months for many long term contributors with large ports. As it hits more long term contributors as their ports age, the reality will set in that they are indeed punishing long term contributors in the search.

Shutterstock has a lot to gain from acquiring disgruntled IS exclusives. From the beginning (2004) shutterstock has given new ports a boost and I think a short term boost is certainly fair.

However the above has gone from a simple short term boost in the past to longer term boosts for new ports and punishment in searches for older ports. Contributors do not believe this until they too experience large overnight drops which do not abate over time. Some long time contributors are reporting that they can see progressive timed drops which occur on the same date over the last two years.

434
Shutterstock.com / Re: Sales on Shutter
« on: June 27, 2014, 09:06 »
Love the replies- 'Worse month ever!'- 'Best month ever'   Like watching a tennis match and the ball keeps going over the net (Good Month- Bad Month)  8)

And the folks responsible for pulling the switch must be amazed that most of us do not see the reality of the situation.

435
Possibly...RSI @70+ is quite high but the market can remain irrational longer than you can remain solvent. ;D

And yes, Insight sold their 1.6 million shares @ nearly $80/share...no doubt someone in wall Street had to buy them in....and WS rarely loses so the stock may still be being distributed to 'suckers' at the present level of $84 before the plug is pulled. Might even go back toward $100 before then. WS loves to make profits and they have to come from someone.

Did I mention that I know nuffin!  ;D


A bit more than 1.6 million shares it is over 7,148,991 shares sold and that is excluding sales by Jon and all other insider executives.

For Insight Venture Partners alone in its various renditions, the total shares sold totals over 7,148,991 shares. There could also be more out there that I've overlooked.

Date    SSTK Sold
6/12/2014   1,754,570
2/27/2014   2,174,421
9/25/2013   3,220,000
5/21/2013   2,170,074
Total Sold   7,148,991

http://www.secform4.com/filings/1549346/000114036114025822.htm
http://www.secform4.com/filings/1549346/000114036113022555.htm
http://www.secform4.com/filings/1549346/000114036114010620.htm
http://www.secform4.com/insider-trading/1549346.htm


WS has even more to distribute then. Could stay higher longer!  8)


The stock option grants for Insight Venture Partners and Key Shutterstock Insiders at a cost of $0 will keep coming until the game is over. At that point they will leave us and those unfortunates who hold SSTK stock in ruins and move on to the next IPO.

436
Possibly...RSI @70+ is quite high but the market can remain irrational longer than you can remain solvent. ;D

And yes, Insight sold their 1.6 million shares @ nearly $80/share...no doubt someone in wall Street had to buy them in....and WS rarely loses so the stock may still be being distributed to 'suckers' at the present level of $84 before the plug is pulled. Might even go back toward $100 before then. WS loves to make profits and they have to come from someone.

Did I mention that I know nuffin!  ;D


A bit more than 1.6 million shares it is over 7,148,991 shares sold and that is excluding sales by Jon and all other insider executives.

For Insight Venture Partners alone in its various renditions, the total shares sold totals over 7,148,991 shares. There could also be more out there that I've overlooked.

Date    SSTK Sold
6/12/2014   1,754,570
2/27/2014   2,174,421
9/25/2013   3,220,000
5/21/2013   2,170,074
Total Sold   7,148,991

http://www.secform4.com/filings/1549346/000114036114025822.htm
http://www.secform4.com/filings/1549346/000114036113022555.htm
http://www.secform4.com/filings/1549346/000114036114010620.htm
http://www.secform4.com/insider-trading/1549346.htm


437
What Falling Estimates & Price Mean for Shutterstock (SSTK)
http://www.zacks.com/stock/news/135695/it-may-be-time-to-drop-shutterstock
Snip
One such stock that you may want to consider dropping is Shutterstock, Inc. (SSTK - Snapshot Report), which has witnessed a significant price decline in the past four weeks, and it has seen negative earnings estimate revisions for the current quarter and the current year. A Zacks Rank #4 (Sell) further confirms weakness in SSTK.

A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 5 estimates moving down in the past 30 days, compared with no upward revisions. This trend has caused the consensus estimate to trend lower, going from 78 cents a share a month ago to its current level of 65 cents.

Also, for the current quarter, Shutterstock has seen 5 downward estimate revisions versus no revision in the opposite direction, dragging the consensus estimate down to 13 cents a share from 19 cents over the past 30 days.   

The stock also has seen some pretty dismal trading lately, as the share price has dropped 10.8% in the past month.

So it may not be a good decision to keep this stock in your portfolio anymore, at least if you dont have a long time horizon to wait.


Shutterstock (SSTK) is in Overbought Territory: What's Next? - Tale of the Tape
http://www.zacks.com/stock/news/137410/shutterstock-sstk-is-in-overbought-territory-what%92s-next
Snip

SSTK is now in overbought territory with an RSI value of 73.84.

What is RSI?

RSI stands for Relative Strength Index and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.

Other Factors

Yet SSTKs high RSI value isnt the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in Shutterstocks stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of SSTKs prospects for the near term.

Over the past two months, investors have witnessed 4 earnings estimate revisions lower compared to none higher for the current year. The consensus estimate for SSTK has also been on a downward trend over the same time period too, as the estimate has fallen from $0.78/share two months ago to just $0.65/share today.

If this wasnt enough, Shutterstock also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth.

438
At shutterstock the downward slide for many contributors started when Jon brought in outside venture capitol investors, prior to the IPO the first thing they did was make changes that would enable them to manipulate the search.

The wide perception is that Jon is in control of Shutterstock, when that is no longer the case. He gave up a large portion of control when he invited Insight Venture Partners into shutterstock as investors.

Take a good look at Insight Venture Partners and how much SSTK stock has been granted at a cost of $0. They break themselves up into multiple companies to hide just how much of the company they own. http://www.secform4.com/insider-trading/1305473.htm

Take a look at how many options they grant themselves as well as more options granted at the cost of $0 for the new executive team members which they placed within shutterstock. Note how many shares these key stake holders have subsequently sold. We are no longer dealing with single owners at many of these sites. We are dealing with the wallstreet crowd and all that comes with their influence and inside manipulations to drive stock prices up. http://www.secform4.com/insider-trading/1549346.htm

Insight Venture Partners
PDF Document Creating a Successful IPO

http://tinyurl.com/mubpw4m

Re the Above Document reports that Insight Venture Partners worked closely with Jon, to recruit a new executive team at Shutterstock, in particular the President, CFO, CTO, VPCD and other mid-level managers. http://www.insightpartners.com/assets/Uploads/SuccessStory/Shutterstock.pdf

Shutterstock Team At Insight Venture Partners: Jeff Lieberman, Jeff Horing, Hilary Gosher, Cian Cotter

Jeff Lieberman Board Director At Shutterstock, Inc.
Independent Director at Shutterstock, Inc. and a Managing Director at Insight Venture Management LLC. He is on the Board of Directors at Cvent, Inc., Shutterstock, Inc., Call24, Inc., HauteLook, Inc., Karmaloop, Inc., Ecova, Inc., Mimecast Ltd., and Tongal, Inc.
http://people.equilar.com/bio/jeffrey-lieberman-cvent--inc./salary/530332#.U6hBt7FRdeA

Insight Venture Partners Tech Support
Mentored and worked closely with shutterstocks existing technology development team prior to James Chou CTO joining Shutterstock

James Chou CTO
Chief Technology Officer at Shutterstock, Inc.
Insight Venture Partners Introduced James Chou to Shutterstock from Insights network
http://people.equilar.com/bio/james-chou-shutterstock--inc./salary/800789#.U6hB8LFRdeA

Thilo Semmelbauer President
President and Chief Operating Officer at Shutterstock, Inc.
http://people.equilar.com/bio/thilo-semmelbauer-shutterstock--inc./salary/723350#.U6hCVrFRdeA

Timothy E. Bixby CFO
Chief Financial Officer at Shutterstock, Inc.
http://people.equilar.com/bio/timothy-bixby-shutterstock--inc./salary/27954#.U6hCp7FRdeA

David Fraga VPCD
Vice President, Corporate Development at Shutterstock
Previously an Insight Venture Partners Employee - Analyst at Insight Venture Partners
http://tinyurl.com/q4xdd6k

Recent INSIGHT VENTURE MANAGEMENT's SSTK stock sales sales. http://www.marketwatch.com/investing/Stock/SSTK/insideractions

Shares Sold

Date                 Name                                                 Shares Sold @ $85
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     127,285         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     750,000         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     333,331         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     92,654         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     17,993         
06/12/2014    INSIGHT VENTURE MANAGEMENT LLC     306,022
                                                          Total Shares   1,627,285
Value $138,319,225

Shares Sold     

For Insight Venture Partners alone in its various renditions, as of June 2014 the total shares sold totals over 12,301,132 shares. There could also be more out there that I've overlooked.

Date    SSTK Sold
6/12/2014   1,627,285
2/27/2014   2,174,421
1/21/2014      405,568
1/16/2014   2,703,784
9/25/2013   3,220,000
5/21/2013   2,170,074

Total Shares Sold   12,301,132

http://www.secform4.com/filings/1549346/000114036114025822.htm
http://www.secform4.com/filings/1549346/000114036113022555.htm
http://www.secform4.com/filings/1549346/000114036114010620.htm
http://www.secform4.com/insider-trading/1549346.htm

http://www.secform4.com/insider-trading/1549346.htm
Date                 Name               Shares            Value
2013-09-25 INSIGHT VENTURE    3,220,000    $193,200,000

2014-06-12 Insight Holdings Group, LLC
1,500,000    $25.25    $37,875,000

2014-01-21 Insight Holdings Group, LLC
405,568    $35.5    $14,397,664

2014-01-16 Insight Holdings Group, LLC
2,703,784    $35.5    $95,984,332

439
It is almost 7 years I am a part microstock world. In the beginning I was enthusiastic but with years it changed.
Today my relation with sites is closer to hate than love. The problem is that with time I forgot why I don't like agencies... Sometimes when I discuss with people and want to be very factual I lack of arguments.
For example I deleted my portfolio from Fotolia and I think it was related to the event when Bobby Deal was banned. What it was?
The only date I remember is September 2010 and iStock beginning of the end.
Is there any place where we can find this kind information? Different events related to sock agencies?
Thanks
BTW, In the title I put "negative" events as I don't think there were positives ones...


http://tinyurl.com/owg724t

Hmmm. I wonder why would they risk alienating a lot of their existing contributors to go after what appears to be a fairly small group of new contributors?

And the fact that maybe only a small percentage of that small group will bite.




Why the would risk alienating ther existing contributors?
That's simple.
Because they have done time and time again in the past without any noticeable impact on their bottom line. Sure, there will be some ranting and complains in the forums, maybe even a few contributors may leave, but after a few weeks it's back to business as usual...

That's why they'll do it.


SOP for Fotolia is if you complain loudly about the way they treat you as a contributor they delete your account and deny you any further referral earnings even when you still have 2 years of referral earnings left from referring top contributors to them.

Fair and honest treatment of the contributor base has never been part of the company credo. I spent many hours consulting (for free) back and forth with Oleg when he was first launching FT and in my personal opinion in the end as in the beginning he never showed any true concern for anything other then his own profit position in the operation. The contributors are simply a means to an end for him and that end is personal profit. Of course we all get into business with profit as the goal but in the case of FT it would seem to be the only true aspiration of the company. I expect that were I to sit down and extrapolate my potential earnings at FT over the past year had I not been railroaded off the site for standing up for contributor rights that I have lost out on $12,000 or more in royalty and referral earnings that would have come as the result of the elevated ranking which I was denied in the last ranking fiasco. Fotolia has a long and well documented track history of mistreating their contributor base yet the staus quo is maintained there. This change will no doubt go forward as has every other change in the history of the agency. In the end a handful will suffer the closing of their accounts and involuntary deleting of their portfolios and after a short time the roar will quiet and it will be business as usual at Fotolia until they announce their next scheme meant to further trample the rights of their contributor base.

440
Quote from: marthamarks link=topic=22932.msg385475#msg385475 date=
[]
I once sent a request to SS asking to be able to sort under the 2nd column on the page, "Total Earned", but got no response about that. That column still isn't sortable, which is a shame, since that would let you see which images have earned the most for you.

I asked them too.
They answered me that they will communicate my request to the technical staff
(It was more than one year ago)

Same here, Beppe. Do you suppose the tech staff wasn't technically able to do that??? Or it just wasn't high enough priority for them.

The change is a simple one that would take ten minutes total. It is simply a query change to one page.

441
I don't know many yes men who strive for anonymity.

How would they gain corporate favor, if no one knows who they are?

442
It is no wonder we are losing long time contributors. I too am growing weary of the sanctioned digs against anonymous members here on MSG. It is almost always the same people making them and giving out negative votes.

443
A lot of very Old Images there, Of course thats what is selling. Maybe they want us whiners as jens said...To just go away. They may get there wish sooner than later and lots more will follow unless they start talking and actually saying something. Remember what the recession taught us, Your never to big to fail.


Sort by new http://tinyurl.com/omjzzhs

444
And yet you left up the posts insulting anonymous members.  Which is what he was responding to in the first place. Sends a clear message does it not!

I expect the same posters who give me negative votes here, on every post I make, to follow in kind.

445
....
Rejections are all about supply and demand, and you folks might be going out of demand, as we all are.


if that's the case they should say so rather than invent bogus 'ighting problems' or 'composition' rejects  or asking for a model release when there are no people in t he picture


Looks to me like they are still accepting a fair number of snaps. Take a look at a few ports from some of the LCV images here. Their new images are similar and they seem to have no problem getting them thru.

http://tinyurl.com/omjzzhs


446
Firefox 1st choice

Chrome 2nd choice

447
Shutterstock.com / Re: Shutterstock, where to next ??
« on: June 23, 2014, 15:04 »
Contributors are waking up and it is clear for Oringer we are not even an afterthought. He views us simply as a way to make bank. Notice that he never once considers nor mentions what would be best for contributors in this equation to acquire more wealth.


I hate to break it to you, but that's the whole industry. I sold more subs at iStock/Thinkstock last month than I did at Shutterstock. This after leaving IS because I thought it was going to be worse than Shutterstock. Guess what? I was right. I'm selling at even lower RPD there now with a higher volume. Wooyay! I wish there was another way, but it's hard to make a living doing this without all the players.

I'm all for helping out a project that wants to make a difference in the industry, but I'm skeptical that one will form. I think small victories can be won like DPC or that illustrators get 20% again at IS, but those are barely victories in my opinion. There is still so much more out there for contributors to earn. My hope is that one day most contributors will come to see that, but it could be just an illusion based on my own numbers. I hope that is not the case though.


I thought about your post and agree that killing off sites is not the way to go. However as contributors we need to do our research. The sites have gone from being one man shows to a completely different animal and we need to switch gears so that we can face the reality of the situation. In short we need to address the new beasts we are currently dealing with.

Lets take Shutterstock for example. The wide perception is that Jon is in control of Shutterstock, when that is no longer the case. He gave up a large portion of control when he invited Insight Venture Partners into shutterstock as investors.

Take a good look at how much income and shutterstock stock Insight Venture Partners has been granted and has subsequently sold. We are no longer dealing with a single owner. We are dealing with wallstreet now and all that comes with it. http://www.secform4.com/insider-trading/1549346.htm

Insight Venture Partners
Creating a Successful IPO


http://tinyurl.com/mubpw4m

Re the Above Document Insight Venture Partners worked closely with Jon, to recruit a new executive team at Shutterstock, in particular the President, CFO, CTO, VPCD and other mid-level managers. http://www.insightpartners.com/assets/Uploads/SuccessStory/Shutterstock.pdf

Shutterstock Team At Insight Venture Partners: Jeff Lieberman, Jeff Horing, Hilary Gosher, Cian Cotter

Jeff Lieberman Board Director At Shutterstock, Inc.
Independent Director at Shutterstock, Inc. and a Managing Director at Insight Venture Management LLC. He is on the Board of Directors at Cvent, Inc., Shutterstock, Inc., Call24, Inc., HauteLook, Inc., Karmaloop, Inc., Ecova, Inc., Mimecast Ltd., and Tongal, Inc.
http://people.equilar.com/bio/jeffrey-lieberman-cvent--inc./salary/530332#.U6hBt7FRdeA

James Chou CTO
Chief Technology Officer at Shutterstock, Inc.
Insight Venture Partners Introduced James Chou to Shutterstock from Insights network
http://people.equilar.com/bio/james-chou-shutterstock--inc./salary/800789#.U6hB8LFRdeA

Thilo Semmelbauer President
President and Chief Operating Officer at Shutterstock, Inc.
http://people.equilar.com/bio/thilo-semmelbauer-shutterstock--inc./salary/723350#.U6hCVrFRdeA

Timothy E. Bixby CFO
Chief Financial Officer at Shutterstock, Inc.
http://people.equilar.com/bio/timothy-bixby-shutterstock--inc./salary/27954#.U6hCp7FRdeA

David Fraga VPCD
Vice President, Corporate Development at Shutterstock 
Previously an Insight Venture Partners Employee - Analyst at Insight Venture Partners
http://tinyurl.com/q4xdd6k

Insight Venture Partners Tech Support
Mentored and worked closely with shutterstocks existing technology development team prior to James Chou CTO joining Shutterstock

448
Could be the some SS reviewers figured out a way how to increase their income.

Firstly, by hitting the same Reject (and sometimes the Accept) button several times in a quick succession, they can drastically increase their productivity and profitability.

Secondly, by sending majority of images into the Rejected pile, they count on the fact that some contributors will resubmit their images which means more images in the pipeline and more income for the reviewers.

I know of sites that pay reviewers more for rejections with the assumption it takes longer to look at an image at 100%; which they expect the reviewer to do before rejecting an image. I have no way of knowing if shutterstock pays more for rejections.

449
I don't think an anonymous area would help much, there there are member/contributors here who would gladly turn us over to the sites if given a chance. I have had several members here contact me on MSG asking for my identity. Luckily one of the most persistent is completely off track and has gone anonymous himself.

http://tinyurl.com/ncm9hr4

"I'm getting closer to the identity"

450
On 06/12/2014 INSIGHT VENTURE MANAGEMENT LLC cashed out of 1,627,285 shares for $138,319,225

A little background on their investment and role regarding key decisions and devolpments at shutterstock.

http://www.insightpartners.com/stories/#!creating-a-successful-ipo

Summary Insight invested in Shutterstock in 2007. Jon Oringer, Shutterstocks founder was seeking a partner that could help scale his original subscription-based royalty-free stock photography site to become a global marketplace for digital imagery, including video, illustrations and vectors. As the company grew its number of imagery contributors and paying customers, Shutterstock began to put in place the infrastructure foundations required for an IPO. In October 2012, the company listed on NYSE and began trading as SSTK.

The successful IPO was the culmination of strong collaboration between Insight and Shutterstock as the company expanded its product and geographical footprint.

Key milestones included:
#Acquisition of BigStock in 2010
#Recruiting of experienced executive team, in particular the President, CFO and CTO
#Expansion into Western Europe, Brazil and China with plans to open offices in Turkey, Russia and other parts of Asia
#Analyzing and subsequently changing product pricing options
to appeal to a broader range of buyers
#Upgrading technology and search capability to ensure that buyers are able to find the right image quickly and efficiently

Insight is an extremely valuable partner. They provide us with meaningful technology advice and access to a variety of resources. Whenever we tackle a growth challenge, we look to Insight for help.
Jim Chou CTO, Shutterstock

Background on Company Pre-IPO
# LLC structure: the Founder and Insight were the only shareholders; this needed to be converted into a C-corp prior to IPO filing
# Company needed a CFO, audited financials and underwriting relationships
# Founder wanted to be under the radar at the time of Insights investment, but gradually became the Ambassador for Shutterstock as the company became more prominent Market and Customer Analysis
# Undertook customer survey to determine customer segmentation, buying behaviors and customer lifetime value (LTV)
# Sponsored a pricing analysis that led to all-you-can-eat subscription and by-the-drink pricing options (5 pack or single photo)
# Assisted with roll-out of growth strategy in Turkey and China

Recruiting
# Helped build executive team, working closely with founder, to recruit a President, CFO and other mid-level managers
# Introduced CTO from Insights network
# Introduced Vice President of business development (previously an Insight employee) Tech Support
# Mentored and worked closely with existing dev team prior to CTO joining
# Provided guidance for architecture migration planning
# Assisted with technology diligence for BigStock acquisition
# Provided oversight for project planning/review
# Served as a sounding board for re-engineering of tech organization


M&A Support
Insight assisted Shutterstock in the evaluation of new acquisitions that would provide additional design and image capabilities. In 2009 Shutterstock acquired BigStock, a royalty-free stock image community website. BigStock also provides editorial images for use in newspapers, magazines, online media, trade publications, and broadcast media.

IPO Assistance
# Introduced company to leading underwriters, ran process to select underwriters, negotiated economics and underwriter agreement
# Partnered with management throughout the IPO process and assisted in financial audits, S1 drafting, corporate structure, legal assistance, financial forecast and positioning, road show presentation, filing and pricing analysis and negotiation

# After its Oct 2012 IPO debut at $17 per share, SSTK traded to a 52 week high of $60.95 (a 3.58 increase for shareholders)

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