Shutterstock Inc (SSTK) acquires WebDAM
Shutterstock Inc (NYSE:SSTK), the popular stock image website, has acquired digital asset management software company WebDAM. The financial details were undisclosed.
WebDAM launched in 2005 and never raised any outside funding. WebDAM offers solutions for marketing and creative teams to organize, distribute, and collaborate around digital assets. WebDAM lets teams work with images, videos, and documents. Customers include Salesforce.com, Intel, Alaska Airlines, Kawasaki, and GE.
WebDAM will continue their product roadmap and operating under their own brand. WebDAM co-founders Jody Vandergriff and Steve Rabkin will continue working at the company following the acquisition. WebDAM currently has around 25 employees.
“Shutterstock is focused on extending our relationships with large enterprises, and by acquiring WebDAM, we can offer a more seamless experience to customers as they license, download, store and share digital assets,” stated Jon Oringer, Founder and CEO of Shutterstock. ”WebDAM also aligns with our company culture and focus on innovation. We want to provide the tools for businesses to do their best work and this is an exciting opportunity to broaden our services.”