MicrostockGroup
Agency Based Discussion => Shutterstock.com => Topic started by: Jo Ann Snover on September 07, 2021, 17:37
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https://www.prnewswire.com/news-releases/shutterstock-acquires-picmonkey-a-leading-creative-design-platform-301369908.html (https://www.prnewswire.com/news-releases/shutterstock-acquires-picmonkey-a-leading-creative-design-platform-301369908.html)
From what I've read, it seems Canva is the market leader in the online design-with-templates space and PicMonkey is just another player.
PicMonkey was using Unsplash and iStock as a partner for images and illustrations, but that's ending Sept 14th (Shutterstock takes its place).
Here's what PicMonkey is telling their users about the buyout:
https://www.picmonkey.com/help/accounts-and-billing/all-about-picmonkey-and-shutterstock/picmonkey-and-shutterstock (https://www.picmonkey.com/help/accounts-and-billing/all-about-picmonkey-and-shutterstock/picmonkey-and-shutterstock)
If you're curious about the (many) online design tool subscriptions currently out there, here are a couple of alternatives-to-Canva articles:
https://blog.dailylogochallenge.com/canva-vs-competition/ (https://blog.dailylogochallenge.com/canva-vs-competition/)
https://paperform.co/blog/canva-alternatives/ (https://paperform.co/blog/canva-alternatives/)
From the contributor's point of view, more buyers could be a very good thing, but for many of these design services, the royalty per download is small. It's also not clear that this is expanding the pool of buyers; it may be Shutterstock wants to be sure it doesn't lose buyers to one of the other design tools.
Shutterstock's stock (SSTK) closed down today but jumped in after-hours trading. No clue what that's about.
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For some reason I saw "PigMonkey" Maybe that could be their new name? LOL :P
Anyways, thanks for the info. To me over all this company merger is more like "PacMan" gobbling up more pellets to make more of a monopoly for its self.
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For some reason I saw "PigMonkey" Maybe that could be their new name? LOL :P
Anyways, thanks for the info. To me over all this company merger is more like "PacMan" gobbling up more pellets to make more of a monopoly for its self.
That was my first thought. Easier to buy competition or new markets than copy or create something. If they could, SS would start a version of Wirestock which would be an absurdity, but just another way to dominate the market. Stockpigs :)
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On a somewhat related note...
Canva announced an additional round of investment, bringing its theoretical valuation to $40b and they project $1b in revenue by the end of this year. Possibly Shutterstock's interest in PicMonkey was a consequence of viewing Canva as a threat
https://techcrunch.com/2021/09/14/canva-raises-200-million-at-a-40-billion-valuation/?tpcc=ECTW2020 (https://techcrunch.com/2021/09/14/canva-raises-200-million-at-a-40-billion-valuation/?tpcc=ECTW2020)
https://www.bbc.com/news/world-australia-58567722 (https://www.bbc.com/news/world-australia-58567722)
Interesting note that of the total 60 million monthly active users, only about half a million "teams" are paying for the service "...in some capacity"