Shutterfly

Shutterfly was founded in December 1999 by Eva Manolis and Dan Baum as an internet-based social expression and personal publishing service.{{cite web |url= http://www.shutterfly.com/about/com_sub_facts.jsp |title= Shutterfly Facts |publisher=Shutterfly.com |access-date=5 November 2014}}

Its corporate headquarters are located in San Jose, California, with offices in other locations, including Eden Prairie, Minnesota and Haifa, Israel. The company's flagship products are photo books and customized cards and stationery.

In 2000, Shutterfly partnered with Kodak to offer their customers film developing and scanning services.{{cite web |url= http://www.dpreview.com/articles/7947647057/shutterflyandkodak |title=Shutterfly Partners with Kodak |publisher=Digital Photography Review |date=27 June 2000 |access-date=5 November 2014}}

In 2001, Shutterfly secured $3 million in incremental capital from Silicon Valley Bank and $10 million from Clark and Mohr Davidow Ventures.{{Cite web |date=2 March 2002 |title=Shutterfly captures $3 million |url=https://www.cnet.com/tech/services-and-software/shutterfly-captures-3-million-1/ |access-date=2024-08-05 |website=CNET |language=en}}{{cite web |url= http://ir.shutterfly.com/releasedetail.cfm?ReleaseID=202218 |title= Shutterfly Secures $3 Million In Incremental Capital |date=19 November 2001 |access-date=5 November 2014}} 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{{cite web |url=http://www.marketwatch.com/story/shutterfly-eyes-possible-ipo-in-2004|title=Shutterfly eyes possible IPO in 2004 |date=15 January 2003 |access-date=5 November 2014}} 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."{{cite web |url= http://www.nasdaq.com/symbol/sfly|title= Shutterfly, Inc. Stock Quote & Summary Data|access-date=5 November 2014}}

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.{{cite web |url= http://fast50.deloitte.com.tr/UserFiles/pdf/Tech_Fast500_North_America_2007_results.pdf|title=2007 Technology Fast 500 |access-date=5 November 2014}}

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.{{Cite web|url=https://www.cnbc.com/2019/06/10/shutterfly-strikes-take-private-deal-with-apollo-global-valuing-company-at-2point7-billion.html|title=Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion|last=Newburger|first=Emma|date=2019-06-10|website=CNBC|language=en|access-date=2019-06-27}} On September 25, 2019, Apollo's acquisition of Shutterfly was completed, while the proposed merger of Shutterfly and Snapfish was still in process.{{cite news |title=Shutterfly, Inc. and Affiliates of Certain Funds Managed by Affiliates of Apollo Global Management, Inc. Announce the Closing of the Previously Announced Transaction Amongst the Parties |url=https://www.businesswire.com/news/home/20190925005534/en/Shutterfly-Affiliates-Funds-Managed-Affiliates-Apollo-Global |access-date=28 September 2019 |work=BusinessWire |date=25 September 2019 |language=en}} The merger of Shutterfly and Snapfish was completed on January 8, 2020.{{cite news |title=Affiliates of Certain Funds Managed By Affiliates Of Apollo Global Management, Inc. Announce The Closing Of The Previously Announced Transaction With Snapfish And Shutterfly |url=https://www.globenewswire.com/news-release/2020/01/08/1968065/0/en/Affiliates-of-Certain-Funds-Managed-By-Affiliates-Of-Apollo-Global-Management-Inc-Announce-The-Closing-Of-The-Previously-Announced-Transaction-With-Snapfish-And-Shutterfly.html |access-date=10 January 2020 |work=GlobeNewswire News Room |date=8 January 2020}}

In September 2021, Shutterfly settled a class-action lawsuit, relating to a breach of Illinois' Biometric Information Privacy Act, for $6.75 million USD.{{cite web |last1=Simpson |first1=Dave |title=Shutterfly Pays $6.75M To End Facial Scan Privacy Claims |url=https://www.law360.com/articles/1421673/shutterfly-pays-6-75m-to-end-facial-scan-privacy-claims |website=Law 360 |access-date=7 April 2022}}

In December 2021, Shutterfly was subject to a ransomware attack.{{cite web |last1=Greig |first1=Jonathan |title=Shutterfly reports ransomware incident |url=https://www.zdnet.com/article/shutterfly-reports-ransomware-incident/ |website=ZDNet |access-date=7 April 2022}} The ransomware group 'Conti' subsequently published 7 gigabytes of Shutterfly data including employment agreements, financial documents, legal documents and payroll data.{{cite web |last1=Arghire |first1=Ionut |title=Shutterfly Employee Data Compromised in Ransomware Attack |url=https://www.securityweek.com/shutterfly-employee-data-compromised-ransomware-attack |website=Security Week |date=30 March 2022 |access-date=7 April 2022}}

Sally Pofcher was named CEO in early May 2023, replacing Hilary Schneider, who transitioned to the board of directors as a strategic advisor.{{Cite web |last=Alexis |first=Alexei |date=7 September 2023 |title=Shutterfly CFO steps down, ex-Philips exec to take over |url=https://www.cfodive.com/news/shutterfly-cfo-steps-down-ex-philips-exec-take-over-teuwen/693062/ |access-date=2024-08-21 |website=CFO Dive |language=en-US}}

On March 29, 2023, Shutterfly deleted or removed access to all photographs of customers whose accounts were deemed "inactive."{{Cite web |last=Steiner |first=Ina |date=2023-03-14 |title=Warning: Shutterfly to Zap Photos of Older Customer Accounts |url=https://www.ecommercebytes.com/2023/03/14/warning-shutterfly-to-zap-photos-of-older-customer-accounts/ |access-date=2024-05-29 |website=EcommerceBytes |language=en-US}}

CFO Mike Eklund resigned in September 2023 and was succeeded by Jan Paul Teuwen, former CFO of Lumileds.{{Cite web |last=Siampani |first=Anna |date=2023-09-07 |title=Jan Paul Succeeds Mike Eklund at Shutterfly |url=https://ceoworld.biz/2023/09/07/jan-paul-succeeds-mike-eklund-at-shutterfly/#google_vignette |access-date=2024-08-21 |website=CEOWorld magazine |language=en-US}}

In 2012, Shutterfly acquired Kodak Gallery from the Eastman Kodak Company for $23.8 million.{{cite web |date=25 April 2012 |title=Shutterfly to Snap Up Kodak Site |url=https://online.wsj.com/articles/SB10001424052702303592404577364271258571262 |access-date=5 November 2014 |publisher=Wall Street Journal}}

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.{{cite web |date=13 September 2009 |title=Shutterfly Buys Tiny Pictures For A Tiny Price |url=https://techcrunch.com/2009/09/13/shutterfly-buys-tiny-pictures-for-a-tiny-price/ |access-date=5 November 2014}}

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.{{Cite web |last=Bennett |first=Caroline |date=2013-10-24 |title=Shutterfly Buys Out BorrowLenses |url=https://www.fool.com/investing/general/2013/10/24/shutterfly-buys-out-borrowlenses.aspx |access-date=2021-02-08 |website=The Motley Fool |language=en}} In May 2024, BorrowLenses was sold to Lensrentals for an undisclosed amount.{{Cite web |last=Schneider |first=Jaron |date=7 March 2024 |title=Lensrentals Acquires BorrowLenses From Shutterfly |url=https://petapixel.com/2024/03/07/lensrentals-acquires-borrowlenses-from-shutterfly/ |access-date=21 August 2024 |website=PetaPixel}} The company acquired MyPublisher, a photobook pioneer, in April 2013{{Cite news |date=30 April 2013 |title=Shutterfly Acquires Photo-Book Company MyPublisher |url=https://www.wsj.com/articles/DJFVW00020130430e94um4b9h |access-date=21 August 2024 |work=The Wall Street Journal}} and it was shut down in May 2017.{{Cite web |last=DIRAdmin |date=2017-03-24 |title=MyPublisher to Shutter Photo Book Operations |url=https://direporter.com/products/photo-books-printing/mypublisher-shutters-book-operations |access-date=2024-08-21 |website=Digital Imaging Reporter |language=en-US}}

In 2014, Shutterfly acquired mobile app company Groovebook for $14.5 million which had secured a deal on Shark Tank eleven months prior.{{Cite web |last=Chowdhry |first=Amit |title=This Startup Made A Deal On 'Shark Tank' And Just Sold To Shutterfly For $14.5 Million |url=https://www.forbes.com/sites/amitchowdhry/2014/11/18/shutterfly-acquires-groovebook/ |access-date=2021-02-08 |website=Forbes |language=en}} In 2018, Shutterfly acquired Lifetouch for $825 million.{{cite news |date=30 January 2018 |title=Shutterfly to buy photography company Lifetouch for $825 million |url=https://www.reuters.com/article/us-lifetouch-m-a-shutterfly/shutterfly-to-buy-photography-company-lifetouch-for-825-million-idUSKBN1FJ2YC |access-date=31 January 2018 |website=Reuters}}

In June 2021, Shutterfly acquired the on-demand printing company Spoonflower.{{cite web |last=Parker |first=Jason |date=June 17, 2021 |title=Inside the $225M Spoonflower-Shutterfly deal: Why Durham firm's execs decided to sell |url=https://wraltechwire.com/2021/06/17/inside-the-225m-spoonflower-shutterfly-deal-why-durham-firms-execs-decided-to-sell/ |work=WRAL TechWire}}

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|date=November 2019}}.

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|date=May 2022}}

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.{{Citation

|author=Ryan Lawler |publication-date=June 22, 2012 |title=ThisLife Raises $2.75 Million From Madrona And Others To Organize Your Photos In The Cloud |date=22 June 2012 |at=techcrunch.com |url=https://techcrunch.com/2012/06/22/thislife-2-75-million-madrona/ |access-date=October 5, 2014}} The company was acquired by Shutterfly in January 2013 and the purchase was reported to cost $25 million.{{Citation

|author=Ryan Lawler |publication-date=January 3, 2013 |title=Source: Shutterfly To Acquire Slick Photo Sharing And Storage Startup ThisLife |date=3 January 2013 |at=techcrunch.com |url=https://techcrunch.com/2013/01/03/source-shutterfly-to-acquire-slick-photo-sharing-and-storage-startup-thislife/ |access-date=October 5, 2014}} ThisLife aggregates photos from social networks, mobile devices, personal computers, and cloud storage.{{Citation

|author=Jackie Dove |publication-date=August 6, 2014 |title=Hands on: Shutterfly's ThisLife masters photo management for busy families |date=6 August 2014 |at=thenextweb.com |url=https://thenextweb.com/creativity/2014/08/06/hands-shutterflys-thislife-masters-photo-management-busy-families/ |access-date=October 5, 2014}} 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.{{Citation

|author=Joanna Stern |publication-date=April 16, 2012 |title=Shutterfly's Treat Lets You Make Highly Customized Greeting Card |at=ABC News |url=https://abcnews.go.com/blogs/technology/2012/04/shutterflys-treat-lets-you-make-highly-customized-greeting-cards/ |access-date=October 5, 2014}} In February 2015, Shutterfly announced it would shut down Treat.{{Citation

|author=Sarah Perez|publication-date=February 13, 2015|title=With Treat's Shutdown, Shutterfly Exits The Mobile Greeting Card Business|date=13 February 2015 |at=Techcrunch | url=https://techcrunch.com/2015/02/13/with-treats-shutdown-shutterfly-exits-the-mobile-greeting-card-business/|access-date=February 23, 2015}}

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.{{Citation

|author=Ken Yeung |publication-date=October 25, 2013 |title=Shutterfly acquires BorrowLenses, adds photo and video equipment rentals to its offerings |date=25 October 2013 |at=The Next Life |url=https://thenextweb.com/insider/2013/10/25/shutterfly-acquires-borrowlenses-adds-photo-video-equipment-rentals-offerings/ |access-date=October 5, 2014}}

Lifetouch Inc. is an American-based photography company headquartered in Eden Prairie, Minnesota.{{Cite web |date=2022-02-25 |title=Lifetouch property purchased for $23.4 million |url=https://www.eplocalnews.org/2022/02/25/lifetouch-property-purchased-for-23-4-million/ |access-date=2023-01-09 |website=Eden Prairie Local News |language=en-US}} Its Canadian operations is based in Winnipeg, Manitoba and the company also has facilities in Nevada, Indiana, and Ohio.{{Cite web |date=2020-02-04 |title=School portrait service closing Chesapeake facility |url=https://www.13newsnow.com/article/news/local/mycity/chesapeake/school-portrait-service-closing-chesapeake-facility/291-ac8c27d1-424b-4918-8262-857542f98b6c |access-date=2023-01-09 |website=13newsnow.com |language=en-US}} Lifetouch was acquired by Shutterfly in 2018 for $825 million dollars.{{Citation |author=KMSP|publication-date=January 30, 2018 |title=Shutterfly buys Minnesota-based Lifetouch Photography |date=30 January 2018 |at=Fox 9 |url=http://www.fox9.com/news/shutterfly-buys-minnesota-based-lifetouch-photography |access-date=January 31, 2018}}

• Web-to-print
• Print-on-demand

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Category:1999 establishments in California

Category:Online retailers of the United States

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Category:American companies established in 1999

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Category:Self-publishing online stores

Category:2006 initial public offerings

Category:Companies formerly listed on the Nasdaq

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