MicrostockGroup
Agency Based Discussion => Shutterstock.com => Topic started by: BigBubba on October 21, 2015, 13:08
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Trading at 28.48 (EL price+sub+15cents) per stock.
Sent from my iPhone using Tapatalk
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There might have been some type of big news media coverage regarding adobe stock.
Or a better reason is that it seems a lot of sell off today in market and the losers get sold more...
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you can't fool everyone all the time.
so, i would say that most of the sell-off is by investors who realised the ss they bought is not the ss they are today, after visiting their forum and here on msg to read so many unhappy contributors.
that, plus the recent intrusion of their network, and the stories, no, not stories, but evidents of the asleep at the wheel reviewers, management,etc
no one want to be there when the stock crash-dive after the main shareholderders finish their damage on what was once the number 1 microstock agency that was runned excellently,
until they went public and started to let shareholders control this company.
iow, eveyrone smart is using the lifeboat of the titanic before there is no lifeboats left.
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Sometimes it's because insiders know something we don't know yet. I wonder if there's an announcement on the way.
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Sometimes it's because insiders know something we don't know yet. I wonder if there's an announcement on the way.
Could be. And whatever it is, you can bet it ain't gonna be good news for us.
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Creepy thread :( >:( :'(
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They are still at 55 times earnings, which I think is overvalued. Short interest is at 28% - this is very high and implies most investors think it is going down. They are supposed to announce Q3 results on Nov. 5th, so that will be interesting to see. I would not buy it right now.
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The November report will be VERY interesting.
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Over priced stock coming back to earth
Growth will be slower going forward noone will pay a premium for that
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All sorts of reasons for a stock to go down and some will be unrelated to the performance of the company.
If it goes down 'sufficiently' it could be bought up on the cheap by some investment club who will then start giving our images away free so that they can collect all sorts of data from the users and transform the company into a data provider which should double their stock market valuation before they then sell it on to some other sucker.
Sorry, I'm a terrible cynic when it comes to stocks, valuations and conniving by market participants to get what they want. ;D
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Jon should buy it back Now. Come back to work and put a soul back into the Place.
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Did he sell a lot of shares at a higher price? Would be great if he took it private again, I just don't feel comfortable having seen what happens when a hedge fund takes over.
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i think the stock was overvalued and Adobe entering the market brought it back to earth. However I still think they have potential, so I picked up a small portion of shares this week. Let´s see what they say in November.
SS won´t go away anytime soon. istock and Getty are more at risk IMO.
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Deleted
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Over priced stock coming back to earth
Growth will be slower going forward noone will pay a premium for that
And Amazon isn't overpriced @17 cents/share last quarter.....first profit ever? Stock price $625!
Whole stock thing is a big joke!
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Over priced stock coming back to earth
Growth will be slower going forward noone will pay a premium for that
And Amazon isn't overpriced @17 cents/share last quarter.....second profit ever? Stock price $625!
Whole stock thing is a big joke!
;D
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Jon should buy it back Now. Come back to work and put a soul back into the Place.
http://www.glassdoor.com/Reviews/Employee-Review-Shutterstock-RVW7829603.htm (http://www.glassdoor.com/Reviews/Employee-Review-Shutterstock-RVW7829603.htm)
“Glory days are gone ”
Former Employee - Marketing Manager in New York, NY
Doesn't Recommend
Negative Outlook
Disapproves of CEO
I worked at Shutterstock full-time (More than 5 years)
Pros
Nice perks and office, no clear responsibilities, doing whatever you want without somebody looking at results and delivery.
Cons
I was working in Marketing but I had strong interactions with all departments. Executive team left because personality of CEO, hundreds of folks across the board they left in a span of a few months, sadly - most of them superstars and talented ones. Technology team was hit the hardest, so with all mediocre folks remaining there the business is sputtering because of lack of innovation, execution, talent and ideas. Stock fell 60% in only a few months. The bubble bursted and until CEO is changed, nothing good will happen! Very negative workplace, where mediocrity runs everything, a real career killer. Don't waste your time with Shutterstock, any other place is better.Show Less
Advice to Management
Board of Directors should fire the CEO - is running the company to the ground. All talented people, all levels and departments left because of viciousness and lack of vision and strategy."
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Advice to Management
Board of Directors should fire the CEO - is running the company to the ground. All talented people, all levels and departments left because of viciousness and lack of vision and strategy."
not surprised. it's the story of every once excellent company to work for. 20 years ago, i too was victim to a company ran afoul by CEOs and someone who called himself an Organizational Expertise Consultant or whatever. he came into the company, sacked my regional maanager, and told me to find another job quick before he fires me too. a month later, the company closed down across the country, and the top man, the sales executive went home and put a bullet through his own brain.
my buddy, the top salesman in our region, went out to drive a cab to survive, while the rest of the company disappeared without a trace.
it's not surprising as these are the vultures that continue to make money killing everyone else except themselves. 20 years later, nothing's changing in the corporate world.
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Over priced stock coming back to earth
Growth will be slower going forward noone will pay a premium for that
And Amazon isn't overpriced @17 cents/share last quarter.....first profit ever? Stock price $625!
Whole stock thing is a big joke!
Yes - there are a lot of bad deals out there
Better to spend your money on new camera gear and accessories!
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And the CEO is Jon, right? How come he was a great leader before, but not now?
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And the CEO is Jon, right? How come he was a great leader before, but not now?
His hands were tied once he let Insight Venture Capital take the reins.
The below 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.
Insight Venture Partners
Creating a Successful IPO
http://www.insightpartners.com/assets/Uploads/SuccessStory/Shutterstock.pdf (http://www.insightpartners.com/assets/Uploads/SuccessStory/Shutterstock.pdf)
Insight Venture Capitol also owned a significant portion of SSTK stock under various entities. These were large and easily tracked INSIGHT VENTURE PARTNERS V L P, SHUTTERSTOCK INVESTORS I LLC, as well as Institutional holdings via INSIGHT HOLDINGS GROUP, LLC
SSTK Insider Activity (SEC Form 4)
http://www.nasdaq.com/symbol/sstk/insider-trades (http://www.nasdaq.com/symbol/sstk/insider-trades)
Recent INSIGHT VENTURE MANAGEMENT's SSTK stock sales.
http://www.marketwatch.com/investing/Stock/SSTK/insideractions (http://www.marketwatch.com/investing/Stock/SSTK/insideractions)
Shutterstock, Inc. Ownership Summary Including Multiple Insight Venture Capitol Entities
http://www.nasdaq.com/symbol/sstk/ownership-summary#ixzz3IafANBvJ (http://www.nasdaq.com/symbol/sstk/ownership-summary#ixzz3IafANBvJ)
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Most Recent Insider Transactions August 2015 - October 2015
Filing Date Name Shares Transaction Value
10/01/15 Steven Berns 40,000 Award at $0 per share 0
09/09/15 Nicholas Flynn 615 Disposition at $33.48 per share 20,590
08/28/15 Jonathan Oringer 100,000 Acquisition at $34.02 per share 3,402,000
08/27/15 Jonathan Oringer 100,000 Acquisition at $32.56 per share 3,256,000
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https://www.pehub.com/2015/09/insight-venture-partners-beefs-up-staff-with-five-new-additions/ (https://www.pehub.com/2015/09/insight-venture-partners-beefs-up-staff-with-five-new-additions/)
Snip
September 29, 2015 – Following the close of Insight Venture Partners’ recent growth and buyout funds totaling $4.75 billion, the firm, a leading global private equity and venture capital investor, has announced the addition of five technology industry specialists who will provide expertise to portfolio companies as they scale revenue and operations. Jason Ewell, Josh Gray, Karl Karlsson, Emmet B. Keeffe III, and Thilo Semmelbauer join Nick Sinai as part of Insight Onsite, the firm’s team of value add portfolio-focused resources.
... Thilo Semmelbauer has been involved in technology ventures for over 25 years, most recently as President and COO of former Insight portfolio company, Shutterstock Inc., (NYSE: SSTK)
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I remember Thilo Semmelbauer was selling SSTK on regular basis while he was President and COO.
http://www.secform4.com/insider-trading/1290183.htm (http://www.secform4.com/insider-trading/1290183.htm)
Seems like he didn't care much about company's future. And then he left right before the stock fell.
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I remember Thilo Semmelbauer was selling SSTK on regular basis while he was President and COO.
[url]http://www.secform4.com/insider-trading/1290183.htm[/url] ([url]http://www.secform4.com/insider-trading/1290183.htm[/url])
Seems like he didn't care much about company's future. And then he left right before the stock fell.
Completely agree none of them did.
I quit keeping track in January of this year, however at that time the key players place in the company by Insight venture capitol & Ownership By Multiple Insight Venture Capitol Entities, excluding Jon have granted themselves 16,356,140 shares of SSTK stock at a cost to themselves of $0.
If they disposed of it at an average share price of $70 which was the low stock price in January, that amounted to $1,144,929,800
It is clear that the last thing on their minds is the welfare of the company or contributors, their biggest concern was/is driving stock prices up, and they are in this for the short term. They know the window to drive stock prices up is limited. That is why you are seeing key players move on to the next lucrative IPO.
Thilo is not the only one placed by Insight Venture Capital to have jumped ship.
Shutterstock (SSTK) Taps Tumblr's Aggarwal as CTO
http://www.streetinsider.com/Management+Changes/Shutterstock+%28SSTK%29+Taps+Tumblrs+Aggarwal+as+CTO/10984622.html (http://www.streetinsider.com/Management+Changes/Shutterstock+%28SSTK%29+Taps+Tumblrs+Aggarwal+as+CTO/10984622.html)
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Ran into an article written by Scott Maxwell from Insight Venture Partners, thought you might find his perspective interesting.
http://www.insightpartners.com/companies/# (http://www.insightpartners.com/companies/#)!shutterstock
The End Of The Startup Gold Rush, Absurd Burn Rates And Tourist VCs
Posted yesterday by Scott Maxwell
Snip
In 15 years as a venture capitalist, I’ve seen just about every market condition you can imagine. I started at Insight Venture Partners in 2000 at a time when the stock market was experiencing historic highs and tech companies were receiving massive private and public valuations. Capital markets were flush, startup burn rates were rampant, and the gold rush was on. Investors came out of every corner trying to get a piece of the pie.
We all know how that ended.
Fast forward to 2006, when I founded OpenView Venture Partners. Markets had rebounded from the 2001 disaster, and investment capital was beginning to flow back into VCs and tech startups. With a reasonably good idea and a solid team, most tech startups could secure growth capital. The environment wasn’t quite as crazy as 2000, but it was close.
Then, 2008 happened — and we all know how that ended.
Which brings us to today...
Snip
So, Where Are We Now?
In the financial world, this ebb and flow phenomenon is often referred to as risk-on, risk-off investing, and it tends to create herd-like behavior.
In my mind, there’s little doubt that the VC and tech worlds are beginning to shift from greed to fear (or, risk-on to risk-off). Private valuations are beginning to normalize. Fewer tech startups are going public. And “tourist” VCs — hedge funds, public asset managers, and corporate venture capital groups that dabble in tech VC when market conditions are favorable — are starting to return home.
Additionally, there are several macroeconomic factors that are creating market uncertainty and, thus, less enthusiasm around riskier investments. Specifically:
China’s growth has slowed, which is causing ripple effects across global capital markets and creating worries about volatility
Interest rates remain low and there’s fear that won’t last
Commodities are declining in price and the stock market isn’t rocketing upward
Collectively, these factors are creating risk-off preference in the market, which is lowering investors’ appetite for investments with unclear opportunities for a return. In the short-term, this will accelerate the demise of startups with poor economic models that previously relied on investor euphoria and the tech industry’s momentum to achieve sky-high valuations. And it will probably make it more difficult for some startups to acquire the runway necessary to test and prove the value of their ideas.
http://tinyurl.com/oargeqg (http://tinyurl.com/oargeqg)
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The End Of The Startup Gold Rush, Absurd Burn Rates And Tourist VCs
good post gbalex. also ipos are delayed or sinking less from silicon valley some pulled back. these investors are nothing but paranas eating business taking many profit bytes and leave the skeleton for dead.