Back to main

Commercial photo website Shutterstock sets terms for $63 million US IPO

Posted
9/27/2012 9:15:00 AM
By: Renaissance Capital
Referenced Stocks:SSTK

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 $460 million.

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.