Shutterstock acquires Pond5 for $210 million
By Sam Boughedda
Investir.com — Shutterstock (NYSE:) announced on Wednesday that it had acquired Pond5 for $210 million in cash.
Pond5 is an online marketplace for royalty-free and editorial videos and counts among its customers netflixDisney, NBC, BBC, Discovery Channel and the Wall Street Journal.
The acquisition will allow Shutterstock, a company that provides photography, footage and music, to obtain Pond5’s collection of 30 million licensed music videos, 1.6 million music tracks and 1.7 million sound effect assets.
Pond5 has built a network of 115,000 active contributors, who will now combine with Shutterstock’s workflow applications to expand the distribution of their content.
“Through this acquisition, we are able to offer our agency, corporate and global media clients access to one of the largest high-end archival collections in the industry,” commented Jamie Elden. , Chief Revenue Officer at Shutterstock.
Elden added, “Shutterstock is constantly reinventing itself, and this acquisition brings together powerful creators and exceptional content to ensure our customers have world-class video, music and editorial collections at their fingertips.
Shutterstock also said it would maintain its 2022 Adjusted EBITDA revenue and margin guidance, but the deal would be immediately accretive to 2022 Adjusted EBITDA, even after one-time transaction-related costs.
Shares of Shutterstock are down 2.9% on Wednesday.