Shutterstock Completes Acquisition of Envato

NEW YORK, July 22nd2024 /CNW/ — Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform delivering high-quality creative content to groundbreaking brands, digital media and marketing companies, has completed its previously announced acquisition of Envato Pty Ltd. (“Envato”), a leader in digital creative assets and templates.

Key strategic information:

• Complements Shutterstock’s existing offering with Envato Elements, the leading unlimited, multi-asset subscription

• Expands Shutterstock’s reach to fast-growing audiences like freelancers, hobbyists, small businesses, and agencies

• He adds 650k subscribers, more than doubling Shutterstock’s subscriber base to 1.15 million

• Increases Shutterstock’s revenue from video, audio, graphics, fonts and templates

• Expands Shutterstock’s content library with 10 million images, 6 million videos, 1 million audio clips, 0.5 million templates, and 0.2 million graphics and fonts

• Further diversify Shutterstock into new types of content, including web code and themes, product mockups, fonts, and templates (e.g., slides, PowerPoint, Keynote, WordPress, video, social media post designs, games, podcasts, and print on demand)

• The completion of the transaction coincides with the launch of Envato’s new brand identity, which is currently being rolled out in stages across the site, marking a significant milestone in the company’s evolution and commitment to creative.

About SHUTTERSTOCK
Shutterstock, Inc. (NYSE: SSTK) is a leading global creative platform offering high-quality creative content to transformative brands, digital media and marketing companies. Powered by millions of creators worldwide, a growing data engine and a commitment to product innovation, Shutterstock is the leading global licensing platform for the most comprehensive and diverse collection of high-quality 3D models, videos, music, photography, vectors and illustrations. From the world’s largest content marketplace, to access to the latest news and A-list entertainment, to a comprehensive content editing platform and studio production services – all powered by the latest innovative technologies – Shutterstock offers the most comprehensive selection of assets to bring storytelling to life.

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FORECASTING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding acquisitions, guidance, industry prospects, future business, future operating results or financial condition, new or planned features, products or services, management strategy and our competitive position. Forward-looking statements can be identified by words such as “may,” “will,” “would,” “should,” “could,” “expect,” “goal,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “predict,” “project,” “seek,” “potential,” “opportunities” and other similar expressions and the negatives of such expressions. However, not all forward-looking statements contain these words. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements contained herein. Such risks and uncertainties include, but are not limited to, those discussed under the “Risk Factors” section in our most recent Annual Report on Form 10-K and in other documents the Company may file from time to time with the Securities and Exchange Commission. Factors related to the transactions discussed in this document that could cause actual results to differ materially from those anticipated in the forward-looking statements include: the effects of disruptions in our or the target’s businesses; the impact of transaction costs; our ability to realize the benefits of the proposed transaction; our ability to successfully integrate the acquired operations into our operations; our ability to retain and employ key target personnel; and the effects of any unknown liabilities. As a result of such risks, uncertainties and factors, Shutterstock’s actual results may differ materially from any future results, performance or achievements discussed or implied by the forward-looking statements contained herein. The forward-looking statements contained in this press release are made only as of today, and Shutterstock disclaims any obligation to update the information contained in this press release or to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Shutterstock, Inc.

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