Move signals Shutterstock's expansion into the credit-based stock photo market
New York, NY, September 23, 2009. Shutterstock, the world's largest subscription-based stock photo agency, announced that it has acquired BigStockPhoto, a leading credit-based stock photo agency, headquartered in Davis, California. Financial terms of the deal were not disclosed.
"With the addition of BigStockPhoto, one of the leading agencies for high quality, royalty-free stock photos, Shutterstock is able to expand into the global, credit-based market," said Adam Riggs, president and CFO of Shutterstock. "This move reinforces our leadership position in the stock photo industry, as it enables us to better serve the diverse payment preferences of stock photo buyers worldwide."