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Industry News: Shutterstock Acquires Web-Based Photo Editor PicMonkey for $110M

By David Schonauer   Wednesday September 22, 2021

Shutterstock has announced the acquisition of PicMonkey, an online photo editing and design platform, for $110 million. The cash deal to acquire the Seattle-based startup was finalized this week, notes PetaPixel. PicMonkey was founded in 2012 and offers users web-based image editing and design tools, with access to thousands of templates, graphics, images, fonts, and more. Shutterstock says the transaction expands the company’s potential reach and taps into “the rapidly growing $8 billion market opportunity for creative software and design tools.” 

Read the whole story at PetaPixel.

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