15 years of work.
Index claimed repeatedly that the company "was the first stock agency to begin storing and distributing images electronically" and "started scanning its collection in 1992 and launched its first e-commerce site in 1994".
Last three funding rounds of $4.5 Million in May 2001, an unknown additional amount in May 2002 and obviously $2.4 million in June 2004. Sums up to a total of $30 million until the year 2001, and overall until today probably more than $33 million, as far as I know and according to hints and media reports back then.
It is unknown what Photolibrary had to pay for Index, but
informations about at least a temporarily 10% paycut for employees, a 20% paycut for members
of the executive committee and certain long-term strategies for paying
off Index´s contributing photographers were widely reported here and
elsewhere on the internet in the past.
Gone through all Ups and Downs this business can ever offer.
"Index Stock founder Bahar Gidwani will not stay with the company, said Photolibrary Group CEO Glenn Parker", Daryl Lang writes, and the press release says "it is Photolibrary Group’s intention to re-brand the Index Stock business whilst simultaneously launching a more traditional RM and RF website via www.photolibrary.com in the US".
What will happen to Dimdump, Bahar Gidwani´s blog? The site was of course a perfect marketing instrument to promote Index, but also an excellent tool for those wanting to gain more insight into the daily business issues of a stock agency.
