2PM:Updated: PAN had a figure of $65M and $50M overnight on this sale, turns out the $65M figure was Canadian Dollars all cleared up in a Tweet to us from Mr Oringer this afternoon: ‘ Will- appx CAD$65 or USD$50 -‘
7AM: Shutterstock have agreed to pay $50M for Flashstock a Toronto based company which enables brands the most ‘efficient’ way to create custom content. – both parties signed a definitive agreement.
Flashstock has a fast growing customer base of enterprise marketers seeking on-brand content to feed the ever growing visual demands of multiple marketing channels. By integrating Flashstock into its product offerings, Shutterstock will be able to offer a high-quality custom content product to its 1.7 million customers. “Custom content has been something we always believed would be an important part of our long term strategy. We’re thrilled to have found Flashstock, a strong business with technology and management that will enhance our product offerings and allow us to grow our partnership with major brands as they look to efficiently create amazing content on-demand,” said Jon Oringer, Founder and CEO of Shutterstock.
Detail: ‘Flashstock established a new way of creating content for marketers. Its model ingests a brand’s visual identity and content strategy, which enables it to create relevant content on demand. Like Shutterstock, Flashstock has a global network of contributors and an innovative technology solution that has streamlined the content creation process. The company currently serves hundreds of top brands across the Fortune 500.’
• above graphic supplied