For immediate release
Shutterstock Increasing Focus on European Market
Shutterstock President and CFO Adam Riggs moves to Frankfurt, Germany
New York, September 22, 2009 –
Shutterstock, the world’s largest subscription-based online stock photo agency, today announced President and Chief Financial Officer Adam Riggs relocated to Frankfurt, Germany in August 2009. The move signals Shutterstock’s continued commitment to the European market.
Shutterstock’s European customers have shown a strong demand for high quality, royalty-free stock images and footage at affordable prices. Riggs’ move to Frankfurt provides an ideal opportunity for Shutterstock to more deeply explore the European market.
“A significant segment of Shutterstock’s clients are in Europe,” Riggs confirmed. “The move will provide new possibilities for us to further expand our customer base, and to build relationships with media organizations and enterprise clients who have a high demand for visual content. We are looking forward to becoming even more familiar with the specific needs of the European market.”
Shutterstock also maintains a strong partnership with its talented European submitters, who provide a steady pipeline of creative content to the site’s diverse library of over 7 million premium, royalty-free images.
Shutterstock’s website is currently translated into 10 languages, including German, French, Italian, Spanish, Portuguese, and Dutch, and the company has a committed customer service support team in place for each offered language.
“We have experienced tremendous growth in Europe, and we expect that to continue,” said Jon Oringer, founder and CEO of Shutterstock. “Adam’s in-depth knowledge of the stock photo industry on a global scale makes him the ideal person to closely examine the long term potential we see in the European market.”
Further, Shutterstock Footage, including over 100,000 affordable, royalty-free video clips, is poised to capitalize on the increasing appetite in Europe for watching video across several platforms.
Riggs has been integral to Shutterstock’s growth into the world's leading provider of online stock photography by subscription. In addition to building Shutterstock's day-to-day operations and guiding its international expansion, Riggs also designed several of Shutterstock's innovative pricing and payment structures, which has differentiated the company in a global competitive landscape.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK), is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 70,000 contributors, Shutterstock adds tens of thousands of images each week, and currently has more than 47 million images and 2 million video clips available.
Headquartered in New York City, with offices in Amsterdam, Berlin, Chicago, Denver, London, Paris and San Francisco, Shutterstock has customers in more than 150 countries. The company also owns Bigstock, a value-oriented stock media agency; Offset, a high-end image collection; Skillfeed, an online marketplace for learning; and WebDAM, a cloud-based digital asset management service for businesses.
For more information, please visit www.shutterstock.com and follow Shutterstock on Twitter or on Facebook.
Jennifer Bewley and Niamh Hughes