This article contains content that is written like an advertisement .(November 2019) |
Type of business | Private |
---|---|
Founded | 1999 |
Headquarters | Redwood City, California |
Owner | Apollo Global Management (majority) District Photo (minority) |
Key people | Sally Pofcher (President and CEO) Dwayne Black (Senior VP & COO) |
Industry | Photograph-derived manufacture; photo sharing |
Revenue | US$ 2 billion (2018) |
Operating income | US$115.54 million (2018) |
Net income | US$50.37 million (2018) |
Total assets | US$2.302 billion (2018) |
Total equity | US$674.37 million (2018) |
Employees | 7,094 (2018) |
Subsidiaries | Snapfish Lifetouch BorrowLenses |
URL | www |
[1] |
Shutterfly, LLC. is an American photography, photography products, and image sharing company, headquartered in Redwood City, California. The company is mainly known for custom photo printing services, including books featuring user-provided images, framed pictures, and other objects with custom image prints, including blankets or mobile phone cases. [2] The company has a variety of subsidiaries including Tiny Prints, This Life, Treat, BorrowLenses, and Lifetouch. [3]
Founded in 1999 by Dan Baum and Eva Manolis, the company is currently led by Hilary Schneider as the President and CEO, and owned by Apollo Global Management (majority) and District Photo (minority). [4] The company went public in 2006, but returned to private ownership in 2019 after being acquired by Apollo. [5] [6] On March 29, 2023, Shutterfly deleted all photographs of customers who did not purchase their products more than once every 18 months. After feedback from irate customers, the deleted photos were temporarily restored on May 1, 2023
Shutterfly was founded in December 1999 by Eva Manolis and Dan Baum as an internet-based social expression and personal publishing service. [7] Its corporate headquarters are located in Redwood City, California. The company's flagship product is its photo book line. [7]
In 2000, Shutterfly partnered with Kodak to offer their customers film developing and scanning services. [8] In 2012, Shutterfly acquired Kodak Gallery from the Eastman Kodak Company for $23.8 million. [9]
In 2001, Shutterfly secured $3 million in incremental capital which was used to expand its infrastructure. [10] The funds include an equipment financing line from Silicon Valley bank. In 2002, the company exceeded its expected earnings and began considering an IPO for 2004 [11] however, it did not take place until 2006. In September 2006, they completed their initial public offering and their common stock was officially listed on the NASDAQ Global Select Market under the symbol “SFLY." [12]
In 2007 Shutterfly was recognized by Deloitte & Touche as Fast 50 Technology Company for Silicon Valley and a Fast 500 Company for North America. Shutterfly ranked #20 in the Internet, Media & Entertainment and Communication category on the Fast 50 list and ranked #241 on the Fast 500 list. [13] The annual rankings identify technology, media, telecommunications and life sciences companies that have shown the fastest growth over the past year. Rankings are based on percentage of fiscal year revenue growth over five years, from 2002 to 2006. Shutterfly grew 671 percent during this period.
In 2009, Shutterfly began its acquisition plans with the purchase of Tiny Pictures, a mobile photo-sharing application centered on photo commenting. This is the first of several acquisitions the company made over the next few years. In 2011, Shutterfly acquired Tiny Prints, Inc. and Wedding Paper Divas. [14] In 2012, the company acquired Penguin Digital, the makers of the MoPho app which they transitioned into the Shutterfly Mobile App. In 2013, the company acquired This Life, a cloud-based solution for organizing and sharing photos and videos. That year, Shutterfly also acquired BorrowLenses, a rental company for high-end photography equipment [15] and MyPublisher, a photobook pioneer [16] (it later shut down MyPublisher in 2017[ citation needed ]). In 2014, Shutterfly acquired mobile app company Groovebook for $14.5 million which had secured a deal on Shark Tank eleven months prior. [17] In 2018, Shutterfly acquired Lifetouch for $825 million. [18]
On June 10, 2019, Apollo Global Management announced that it would acquire Shutterfly for $2.7 billion, as well as its competitor Snapfish in a separate transaction valued at around $300 million. Apollo plans to merge both companies into a single entity, with Snapfish parent company District Photo as a minority stakeholder. [19] On September 25, 2019, Apollo's acquisition of Shutterfly was completed, while the proposed merger of Shutterfly and Snapfish was still in process. [20] The merger of Shutterfly and Snapfish was completed on January 8, 2020. [21]
In June 2021, Shutterfly acquired the on-demand printing company Spoonflower. [22]
In September 2021, Shutterfly settled a class-action lawsuit, relating to a breach of Illinois' Biometric Information Privacy Act, for $6.75 million USD. [23]
In December 2021, Shutterfly was subject to a ransomware attack. [24] The ransomware group 'Conti' subsequently published 7 gigabytes of Shutterfly data including employment agreements, financial documents, legal documents and payroll data. [25]
On March 29, 2023, Shutterfly deleted or removed access to all photographs of customers whose accounts were deemed "inactive."
Shutterfly enables users to create personalized photo gifts (including photos and text) such as smartphone cases, photo books, wall art, and home décor. Through its Lifetouch division, it also provides portraiture services. It competes with Snapfish and other online photo services. As of 2019, Shutterfly serves 10+ million customers with 26+ million orders per year, and hosts more than 50 billion photos on its photo storage platform[ citation needed ].
In March 2011, Shutterfly acquired personalized card and stationery seller Tiny Prints, Inc. and partner-company Wedding Paper Divas for $141 million in cash and 3.9 million shares. The total transaction was valued at $333 million.[ citation needed ] In September 2014, the company launched “Tiny Prints for iPad” in September 2014; a mobile version of their online stationery shop the company acquired in 2011.
In 2013, Shutterfly acquired ThisLife, for organizing and sharing photos and videos. ThisLife initially launched in 2010 by husband-and-wife team Matt and Andrea Johnson. ThisLife has raised a $2.75 million seed round led by Madrona Venture Group, with Madrona Managing Director Greg Gottesman joining its board. [26] The company was acquired by Shutterfly in January 2013 and the purchase was reported to cost $25 million. [27] ThisLife aggregates photos from social networks, mobile devices, personal computers, and cloud storage. [28] The company transitioned This Life into the all-new Shutterfly Photos platform in 2016.
In April 2012, Shutterfly launched Treat, a service to create customized greeting cards. Unlike other divisions of Shutterfly that were acquired, Treat was developed internally. The site has 4,500 customizable card designs and has a partnership with Hallmark. [29] In February 2015, Shutterfly announced it would shut down Treat. [30]
Mark Gurevich and Max Shevyakov launched BorrowLenses in 2007 as a way for individuals to rent high-level camera equipment. The company has two headquarters in San Carlos, California and Waltham, Massachusetts. In October 2013, Shutterfly acquired BorrowLenses. Terms of the deal weren't released. [31]
Lifetouch Inc. is an American-based photography company headquartered in Eden Prairie, Minnesota. [32] Its Canadian operations is based in Winnipeg, Manitoba and the company also has facilities in Nevada, Indiana, and Ohio. [33] Lifetouch was acquired by Shutterfly in 2018 for $825 million dollars. [34]
The Eastman Kodak Company, referred to simply as Kodak, is an American public company that produces various products related to its historic basis in film photography. The company is headquartered in Rochester, New York, and is incorporated in New Jersey. It is best known for photographic film products, which it brought to a mass market for the first time.
The following list comprises significant milestones in the development of photography technology.
Victor Hasselblad AB is a Swedish manufacturer of medium format cameras, photographic equipment and image scanners based in Gothenburg, Sweden. The company originally became known for its classic analog medium-format cameras that used a waist-level viewfinder. Perhaps the most famous use of the Hasselblad camera was during the Apollo program missions when the first humans landed on the Moon. Almost all of the still photographs taken during these missions used modified Hasselblad cameras. In 2016, Hasselblad introduced the world's first digital compact mirrorless medium-format camera, the X1D-50c, changing the portability of medium-format photography. Hasselblad produces about 10,000 cameras a year from a small three-storey building.
The Brownie was a series of camera models made by Eastman Kodak and first released in 1900.
The Instamatic is a series of inexpensive, easy-to-load 126 and 110 cameras made by Kodak beginning in 1963. The Instamatic was immensely successful, introducing a generation to low-cost photography and spawning numerous imitators.
Fujifilm Holdings Corporation, trading as Fujifilm, or simply Fuji, is a Japanese multinational conglomerate headquartered in Tokyo, Japan, operating in the realms of photography, optics, office and medical electronics, biotechnology, and chemicals.
Graflex was a manufacturer that gave its brand name to several models of camera.
An enlarger is a specialized transparency projector used to produce photographic prints from film or glass negatives, or from transparencies.
CafePress, Inc. is an American online retailer of stock and user-customized on-demand products. The company was founded in San Mateo, California, but is now headquartered in Louisville, Kentucky along with its production facility. In 2001, CafePress.com won the People's Voice Webby Award in the Commerce category.
Lulu Press, Inc., doing business under trade name Lulu, is an online print-on-demand, self-publishing, and distribution platform. By 2014, it had issued approximately two million titles.
The Kodak Gallery was Kodak's consumer online digital photography web site. It featured online photo storage, sharing, viewing on a mobile phone, getting Kodak prints of digital pictures, and creating personalized photo gifts. The service was originally launched in 1999 as Ofoto, and was acquired by Kodak in 2001, renamed Kodak EasyShare Gallery in 2005, and shortly thereafter shortened to Kodak Gallery. At its peak in 2008, it served over 60 million users and billions of images. Subsequent to the bankruptcy of the parent Kodak, Shutterfly placed a stalking horse bid on Kodak Gallery on March 1, 2012, for $23.8 million. Kodak Gallery was shut down on July 2, 2012. Photos were transferred to Shutterfly.
Snapfish is a web-based photo sharing and photo printing service owned by Shutterfly based in San Francisco, California.
Digital photography uses cameras containing arrays of electronic photodetectors interfaced to an analog-to-digital converter (ADC) to produce images focused by a lens, as opposed to an exposure on photographic film. The digitized image is stored as a computer file ready for further digital processing, viewing, electronic publishing, or digital printing. It is a form of digital imaging based on gathering visible light.
JPG was an online photography magazine published by 100 Tribes, Inc. in New York City.
Lifetouch Inc. is an American-based photography company headquartered in Eden Prairie, Minnesota. Its Canadian operations is based in Winnipeg, Manitoba and the company also has facilities in Nevada, Indiana, and Ohio.
Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. It provides investment management and invests in credit, private equity, and real assets. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors.
PNI Digital Media is a company that operates an enterprise-class e-commerce platform which allows retailers to provide print-on-demand personalized products and services to their customers. Retailers who license the PNI platform use PNI's software to offer photo prints, photo gift merchandise, small business marketing products, document printing services and other print-on-demand merchandise.
Calumet Photographic, Inc., often shortened to Calumet Photo and formerly known as Calumet Manufacturing Company, is a photographic retail and photofinishing specialty store, originally headquartered in Chicago, Illinois. In 2012, the company owned and operated a chain of 32 locations worldwide. The company had 15 locations in the United States, 8 in the United Kingdom, 6 in Germany, 2 in the Netherlands and 1 in Belgium, with 200 employees and an annual revenue of $10 million.
Picaboo is a web-based image self-publishing and printing service based in Hanover, New Hampshire. Customers can upload their digital photos through Picaboo's in-browser application and create a variety of personalized photo products.
Parse, Inc. was a company acquired by Meta in 2013 and shut down in January 2017. They developed a MBaaS platform, Parse. Following the announcement in 2016 of the impending shutdown, the platform was subsequently open sourced.