I am pleased to announce that today Shutterstock will officially list on the New York Stock Exchange as a publicly traded company, under the ticker symbol SSTK. This milestone marks the first time in more than two years that a New York City-based technology company has completed an initial public offering (or IPO).
The road to our IPO has been an exciting journey, one that began almost exactly nine years ago, with 30,000 of my own photographs. Today, Shutterstock showcases more than 20 million high-quality images and video clips from over 35,000 talented artists. We have built a thriving, diverse, global creative marketplace that spans more than 150 countries, and we couldn’t be more excited to celebrate this monumental occasion in the heart of the city in which we were founded.
Shutterstock will be participating in various listing activities at the New York Stock Exchange over the coming days, and intend to share highlights from the events on our blog, Facebook and Twitter. We would love to be able to answer questions you may have or comment on topics related to our IPO, however we remain in what is called a “quiet period.” During this time, SEC rules prohibit us from discussing or releasing any information outside of our public filing. We appreciate your understanding that we will not be able to respond to related questions posted in the forums or elsewhere.
Founder & CEO
Shutterstock Prices Initial Public Offering
October 10, 2012 - Shutterstock, Inc. (NYSE: SSTK), a global marketplace for digital imagery, today announced the pricing of its initial public offering of 4,500,000 shares of common stock at a price to the public of $17.00 per share. In addition, Shutterstock has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares to cover over-allotments, if any. The shares are expected to begin trading on October 11, 2012 on the New York Stock Exchange under the symbol “SSTK.”
The bookrunning managers of the offering are Morgan Stanley, Deutsche Bank Securities and Jefferies. RBC Capital Markets, Stifel Nicolaus Weisel and William Blair are acting as co-managers for the offering.
The offering of these securities will be made only by means of a written prospectus. A copy of the prospectus may be obtained from the offices of Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at firstname.lastname@example.org, or by phone at (866) 718-1649; the offices of Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, New York 10005, or by email at email@example.com, or by phone at (800) 503-4611; and the offices of Jefferies & Company, Inc. Attention: Prospectus Department, 520 Madison Avenue, 12th Floor, New York, New York 10022, or by email atProspectus_Department@Jefferies.com, or by phone at (877) 547-6340.
A registration statement relating to the initial public offering has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Shutterstock is a leading global provider of high-quality licensed photographs, vectors, illustrations and videos to businesses, marketing agencies and media organizations around the world. Shutterstock works closely with its growing contributor community of photographers, videographers, illustrators and designers to curate a global marketplace for royalty-free imagery. Shutterstock adds tens of thousands of rights-cleared images each week, and with more than 20 million images currently available, the company recently surpassed 250-million image downloads.
Headquartered in New York City, Shutterstock also owns Bigstock, a value-oriented stock agency that offers both credit and simple Pay As You Go purchase options.
Shutterstock CEO Sees Growth in Overseas Markets | Bloomberg TV
Oct. 11 (Bloomberg) — Jonathan Oringer, chief executive officer of Shutterstock Inc., talks about the company’s initial public offering and the outlook for growth of the online marketplace for digital images. Oringer speaks with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)