Shutterstock, a global online marketplace for commercial digital image licensing, filed on Monday with the SEC to raise up to $115 million in an initial public offering. The New York, NY-based company allows users to search a library of digital images and videos which they can pay to license and download. Contributors of the digital content are compensated for each image or video downloaded.
Shutterstock had more than 550,000 paying customers in 2011, which contributed to revenue of $120 million for the 12 months ended 12/31/2011. Shutterstock plans to list on the NYSE under the symbol SSTK. Morgan Stanley, Deutsche Bank Securities and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
