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Shutterstock Exceeds At IPO – Raises $76.5 million

Stock photo agency Shutterstock surprised the market yesterday raising keen interest in it’s shares.
Reuters reports: ‘Shutterstock Inc soared 34 percent in its market debut, valuing the company at more than 436 million pounds, as investors bet on strong demand for the company’s stock images from multimedia customers, especially online.’…. Investor interest in Shutterstock and its subscription-based model helped the company raise $76.5 million at $17 per share, 21 percent above the midpoint of the expected range….
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Shutterstock on PAN:
September 2012: Shutterstock IOP Price Lower Than Expected
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June 2012: Shutterstock CEO Picks Up E&Y Entrepreneur Award