A Funny Thing Happened on the Way to These Shutterstock Partnerships
Growing at a year-over-year rate of 40% will do that
Shutterstock wound up buying both companies.
As company founder-CEO Jon Oringer explained today on Bloomberg TV, his firm initially approached music licensing service PremiumBeat and European photo agency Rex Features only for potential partnerships. But at this early stage of the new year, he now owns both.
“Sometimes, along the way of talking about a partnership, M&A discussions can come up,” he explained to Bloomberg. “We initially wanted to [just] sell Rex’s images to our big media agency clients and subscribers.
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