- Mon, 22 Jul 2024 4 Min Read
Shutterstock Completes Acquisition of Envato
NEW YORK, July 22, 2024 -- Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies, completed its previously announced acquisition of Envato Pty Ltd. ("Envato"), a leader in digital creative assets and templates.
Strategic Highlights:
Complements Shutterstock's existing offering with Envato Elements, a leading unlimited multi-asset subscription offeringExpands Shutterstock's reach within faster growing audiences such as freelancers, hobbyists, small businesses and agenciesAdds 650k subscribers, more than doubling Shutterstock's subscriber base to 1.15 millionIncreases Shutterstock's Content revenue from video, audio, graphics, fonts and templatesBolsters Shutterstock's content library with 10 million images, 6 million videos, 1 million audio clips, 0.5 million templates and 0.2 million graphics & fontsFurther diversifies Shutterstock into new content types including code & web themes, product mock-ups, fonts and templates (e.g. Slides, PowerPoint, Keynote, WordPress, video, designs for social posts, gaming, podcasts and print-on-demand)Deal completion coincides with the launch of Envato's new visual brand identity, currently in a phased rollout across the site, which marks a significant milestone in the company's evolution and commitment to creatives
