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What are your thoughts on this acquisition by Shutterstock? Leave your thoughts below.Д« participates in affiliate programs to help cover operating expenses.

It would however be better if they kept these platforms with Shutterstock being the primary option. My take on this change: That is pretty significant change but Shutterstock isnвЂ™t running a non-profit so it is an understandable change. If you have any more questions about how this affects the platform, check out the Everything to Know About PicMonkey + Shutterstock FAQ. If you have Unsplash images in Hub, these images have always been unwatermarked and royalty-free, so you may continue to use them in your projects. ThatвЂ™s right, ShutterstockвЂ™s enormous library of royalty-free stock photos will replace Unsplash & iStock by Getty images, effective September 14, 2021.ДЄfter September 14, Unsplash images will no longer be available in PicMonkey. The PicMonkey platform will remain the same for the most part but the existing stock photography options will be swapped. How will this affect the PicMonkey Platform? A key element of ShutterstockвЂ™s strategy and vision is providing a suite of solutions for the entire creative journey, regardless of experience or expertise level,вЂќ SAID STAN PAVLOVSKY, CHIEF EXECUTIVE OFFICER AT SHUTTERSTOCK. вЂњContent is at the core of ShutterstockвЂ™s offering, and selecting an asset is just one step of the creative process. PicMonkey is expected to contribute approximately 3% to ShutterstockвЂ™s annual revenues and to add more than 200,000 new subscribers.

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The market for creative software and design tools is a growing market with over $8 billion in opportunities. The platform not only supplements Shutterstock with easy to use image and video design tools but expands its audience reach. The acquisition of PicMonkey, an Online Image and Design platform is, therefore, a perfect complementary acquisition for Shutterstock. Shutterstock adds hundreds of thousands of images each week, and currently has more than 380 million images and more than 22 million video clips available. Shutterstock is known for their comprehensive stock library of high-quality licensed photographs, vectors, illustrations, videos, 3D models and music. The platform can thus be used in cases such as digital marketing, advertising, and social media posts.

(NYSE: SSTK), a leading global creative platform offering full-service solutions, high-quality content, and applications for brands. Lightning Partners acted as financial advisor, and Latham and Watkins acted as legal advisor to PicMonkey.The PicMoney platform gives creators the ability to make presentations, advertisements and logos, to business cards and banners. 7, 2021 /PRNewswire/ - Shutterstock, Inc. These design and editing features represent a natural extension of Shutterstock's content offering.Д¬onsideration for the transaction consists of USD 110m of cash paid at closing and the acquisition is expected to be immediately accretive to Adjusted EBITDA and Adjusted Net Income.Д¬apM Advisors acted as financial advisor, and Sheppard Mullin acted as legal advisor to Shutterstock.

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Key features of the PicMonkey tool includes photo editing, effects, touch-up tools, brand kits, cloud storage video, animations, and multi-page for creators, solopreneurs, social marketers, marketing professionals, pro designers and casual creatives. (NYSE: SSTK), a New York City-based global creative platform offering full-service solutions, content, and. The acquisition of PicMonkey is an element of Shutterstock's workflow solutions, empowering creatives, business owners and marketers to design with ease. Shutterstock Acquires Creative Design Platform PicMonkey, for 110M. This acquisition builds upon Shutterstock's strategy to expand its offering to small businesses, by providing additional tools to non-professionals for elevating their visual content across a variety of platforms. (NYSE: SSTK) has acquired online graphic design and image editing platform PicMonkey, the company said.ДЄccording to Shutterstock, PicMonkey enables creators to design visual assets, from presentations, advertisements and logos, to business cards and banners, for an range of use cases, including digital marketing, advertising, and social media posts.ДЇounded in 2012, PicMonkey allows creators to access thousands of templates, graphics and fonts, with tips and tutorials for producing sophisticated visual designs with an editorial look and feel for a range of channels. US-based creative platform Shutterstock, Inc. APA style: Shutterstock Acquires Creative Design Platform PicMonkey.Shutterstock Acquires Creative Design Platform PicMonkey.' Retrieved from

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MLA style: 'Shutterstock Acquires Creative Design Platform PicMonkey.' The Free Library.

Shutterstock picmonkey 110msopergeekwire