Shutterstock eyes enterprise with acquisition of software maker WebDAM
The Evolution of Enterprise Software
Stock photography agency Shutterstock has long been serving commercial customers, but now it appears to by widening the net for larger fish.
The New York City-headquartered firm is acquiring digital asset management software maker WebDAM.
In Monday's announcement, Shutterstock specified that WebDAM's cloud-based toolset for managing and distributing digital photos, videos, and other pieces of content are "particularly attractive to large enterprises."
With a few integrations already in the pipeline, WebDAM users will now have Shutterstock’s library of images, vectors and videos -- if they choose to be come Shutterstock customers.
However, as explained by WebDAM CEO and co-founder Jody Vandergriff in a blog post, subscribing to one service does not demand signing up for both.
With 25 employees, the San Mateo, Calif.-based company will continue operations as normal from its Silicon Valley offices under current leadership rather than moving eastward.
WebDAM asserted it will continue to focus on targeting creative and marketing teams, which will undoubtedly be boosted by Shutterstock's existing global presence. The royalty-free stock photo library has customers in more than 150 countries as well as offices in Berlin, Chicago, Denver, London, and San Francisco.
Financial terms of the deal have not been disclosed. A closing date has not been pinpointed publicly yet, but it is expected to occur in the coming weeks.