2 of the largest stock photo platforms are merging, sending their shares up
"We see increased usage in our stock content from our AI customers, and we're seeing new customers coming into the franchise for our AI products," Hennessy said. "There's a one pl
Getty Images and Shutterstock are merging into one stock photo powerhouse
Shutterstock are joining forces in a merger valued at around $3.7 billion, the companies announced on Tuesday. The merger will allow the companies to expand their stock photo libraries as they face increasing competition from AI-powered image creation tools.
Getty Images and Shutterstock to merge to form $3.7B stock photo giant
Getty Images is the bigger company of the two, and its shareholders will own approximately 54.7% of the new entity, while Shutterstock shareholders will own 45.3%. Getty Images also owns the iStock and Unsplash brands. The company will simply be called Getty Images.
One Stock Image to Rule Them All? Getty Images and Shutterstock Are Merging
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The Future Of Stock Media After Getty And Shutterstock Join Forces
Under the terms of the agreement, the combined company will retain the Getty Images name and continue trading under the NYSE ticker symbol "GETY." Craig Peters, current CEO of Getty Images, will lead the merged entity, while Shutterstock's CEO Paul Hennessy will join the eleven-member Board of Directors.
Getty and Shutterstock announce $3.7B merger to dominate stock photos
Getty Images already works with more than half a million content creators around the globe and serves customers in nearly every country. The outlet, which also
Getty Images and Shutterstock Agree To Merge To Dominate Visual Content, Shares Jump
Getty Images Holdings, Inc. (NYSE:GETY) and Shutterstock, Inc. (NYSE:SSTK) shares are trading higher premarket on Tuesday after the companies entered a deal to create a visual content company in a merger of equals.
Getty Images, Shutterstock agree to merge in $3.7 billion deal. Here's what to know.
Getty Images and Shutterstock announced that the companies will merge and create a $3.7 billion 'premier visual content company.'
Getty Images buying Shutterstock to create a $3.7 billion visual content company
Visual content companies Shutterstock and Getty Images will join to become a $3.7 billion visual content company.
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