Add a mobile content platform with 1.7 billion daily users and global partners including Instagram, Facebook, WhatsApp, Microsoft, TikTok, Samsung, Twitter, Slack and Discord.
NEW YORK, May 23, 2023 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), a premier partner for transformational brands, digital media and marketing companies, announced today that it has entered into a definitive agreement to acquire GIPHY, Inc. from Meta Platforms, Inc. GIPHY is the world's largest collection of GIFs and stickers providing content for casual conversation.
GIPHY's extensive library of GIFs and stickers generates more than 1.3 billion search queries daily and generates more than 15 billion media impressions daily. These prints are distributed through GIPHY's 14,000+ API/SDK integrations and its owned and operated website and mobile app. GIPHY content serves as a critical ingredient in message and text-based conversations on platforms like Meta, other social media platforms like TikTok, Twitter, and Snapchat, and team collaboration platforms like Slack and Microsoft Teams, plus integrations with most of mobile devices. GIPHY's content library is powered by individual artists contributing original content and verified media partners such as NBC, Disney, Netflix, NFL, MLB and NBA, ensuring a constant supply of culturally relevant content that can be embedded into daily conversations and shared through social networks.
"This is an exciting next step in Shutterstock's journey as a comprehensive creative platform," said Paul Hennessy, CEO of Shutterstock. "Shutterstock is in the business of helping people and brands tell their stories. Through the acquisition of GIPHY, we are expanding our audience touchpoints beyond the primarily professional marketing and advertising use cases and expanding into informal conversations. GIPHY enables everyday users to express themselves in memorable ways with GIF content and stickers, while enabling brands to be part of these informal conversations. We plan to leverage Shutterstock's unique capabilities in content monetization and metadata, AI generative, studio production, and creative automation to enable commercialization of our GIF library as it rolls out this offering to clients."
Additional Information: Investors can find a link to the GIPHY transaction presentation material at https://investor.shutterstock.com.
Advisor: CapM Advisors acted as financial advisor to Shutterstock in connection with the transaction.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK) is a premier partner for transformational brands and digital media and marketing companies, empowering the world to create with confidence. Powered by millions of creators around the world, a growing data engine, and a fearless approach to product innovation, Shutterstock is the leading global platform for licensing the largest and most diverse collection of 3D models, high-quality videos, music, photos, vectors and illustrations. From the world's largest content marketplace, to editorial access to breaking news and top-tier entertainment, to the all-in-one content editing platform and studio production service, all using the latest in Innovative technology, Shutterstock offers the most comprehensive selection of resources to bring storytelling to life.
Learn more through www . shutterstock . com and follow us on LinkedIn, Instagram, Twitter, Facebook and YouTube.
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. Examples of forward-looking statements include, but are not limited to, statements about guidance, industry prospects, future business, future results of operations or financial condition, new or planned features, products or services, management strategies, and our competitive position. You can identify forward-looking statements with words such as "may", "will", "should", "shall", "could", "expect", "aim", "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, among others, those discussed under the heading "Factors risk" in our most recent Annual Report on Form 10-K, as well as in other documents that the Company may file from time to time with the Securities and Exchange Commission. The factors related to the transactions discussed in this document that could cause that actual results may differ materially from those contemplated in forward-looking statements include: uncertainties as to the timing of consummation of the potential transaction; the risk that a condition is not met to close the potential transaction; potential litigation related to the potential transaction that could be instituted; the effects of interruption to our respective businesses or purpose; the impact of transaction costs; our ability to achieve the benefits of the proposed transaction, including monetization; our ability to effectively integrate the acquired operations into our operations; our ability to retain and hire 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 any forward-looking statements contained herein. Forward-looking statements contained in this press release are made only as of this date, and Shutterstock does not undertake any obligation to update the information contained in this press release or to revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
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