Angel-backed Flashstock to be bought by Shutterstock for $66 mln
Flashstock Technologies Inc, a Toronto developer of custom visual content for marketers, has agreed to be acquired by Shutterstock Inc (NYSE: SSTK). The deal, expected to close next month, will see Shutterstock pay about $66 million (US$50 million) in cash for the company. Shutterstock, a U.S. online marketplace for digital images, videos and music, said the deal will help it offer a high-quality custom content product to its 1.7 million customers. Founded in 2013 and led by CEO Grant Munro, Flashstock raised most of its funding from angel investors, many of them senior business executives.
28 June 2017•3 mins read
