It seems that there is no end to
) acquisition spree. This California-based personalized photo
services company recently purchased a sought-after online
provider of photographic and video equipment rentals,
BorrowLenses for an undisclosed amount.
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With its business spread across San Carlos, CA and Boston, MA,
BorrowLenses offers photographers and videographers with a
variety of cameras, lenses, and other equipments. Orders are
delivered through mail or can be picked up from any of its 30
independent locations across 12 states.
Shutterfly is focused on growing its business through strategic
partnerships with retailers and through acquisitions. Some of
Shutterfly's latest acquisitions include R&R Images, which is
engaged in premium stationery printing and product design, in Aug
2013; MyPublisher, one of the photo book industry pioneers in May
2013; ThisLife, which offers a cloud-based solution for
protecting, organizing and sharing photos and videos in Jan 2013;
Fuji Film's photo creating and sharing website SeeHere.com in Oct
2012 and Kodak Gallery online photo services (formerly known as
Ofoto) in May 2012.
In the last three years ended 2012, Shutterfly also took control
of a mobile application developing company - Penguin Digital
(2012); Israel-based photo software company - Photoccino (2012),
a leading online social expression and publishing services
company - Tiny Prints (2011) as well as TinyPictures (2009) and
Shutterfly, which mainly sells photo books, greeting cards,
calendars and ancillary products, derives over 50% of its
revenues from the fourth quarter of every year owing to the
holiday season. Since Shutterfly's business is extremely
seasonal, management intends to register continued improvement in
non-holiday growth rates by leveraging its other side of the
The latest acquisition is a part of Shutterfly's relentless
efforts to shore up its non-seasonal business and diversify its
revenue stream. Through this acquisition, Shutterfly can
strengthen its presence in the fast growing sharing economy.
Also, in order to boost non-seasonal products, Shutterfly is also
striving hard to build its commercial printing business.
Shutterfly currently has a Zacks Rank #2 (Buy). Internet content
companies that warrant a look include
Shanda Games Ltd
WebMD Health Corp.
), all with a Zacks Rank #1 (Strong Buy).