Commercial photo website Shutterstock sets terms for $63 million US IPO
Shutterstock, an online marketplace for royalty-free images
and videos, announced terms for its IPO on Thursday. The New
York, NY-based company plans to raise $63 million by offering 4.5
million shares at a price range of $13 to $15. At the midpoint of
the proposed range, Shutterstock would command a market value of
Shutterstock, which was founded in 2003 and booked $144 million in sales for the 12 months ended 6/30/2012, plans to list on the NYSE under the symbol SSTK. Morgan Stanley, Deutsche Bank and Jefferies are the joint bookrunners on the deal.