Shutterfly Acquires Penguin Digital, Creator Of The MoPho App
Shutterfly is a website that stores and prints digital photos. Shutterfly has acquired Penguin Digital, a New York based company that is known for creating the MoPho app. The terms of the deal are not disclosed. Shutterfly has been on an acquisition binge lately as they have acquired Kodak’s gallery printing services for $23.8 million had acquired Tiny Prints for $333 million in March 2011.
Shutterfly will be integrating Penguin Digital’s technology into the iPhone, iPad, and Android apps. MoPho is an app that makes it easier to order physical copies of images from the iPhone’s photo library and print them on mugs, T-shirts, iPhone cases, etc.
“The acquisition of Penguin Digital supports our mobile strategy aimed at giving consumers better ways to engage with their photos and personalize products on the go,” stated Shutterfly president and CEO Jeffrey Housenbold. “We believe it’s important to give consumers the choice and convenience of transforming their memories into high quality products and gifts from their PC, tablet, and mobile phone.”
Penguin Digital started in 2010 and they had raised $1 million in seed funding from Globis capital. Penguin Digital founders Reuven Moskowitz and Josh Friedman along with the rest of the Penguin Digital team will join Shutterfly’s office in New York.@amitchowdhry or on Google+ at +AmitChowdhry