Shutterstock acquires PicMonkey
Shutterstock, Inc. announced the $110 million acquisition of PicMonkey, an online graphic design and image editing platform, from Spectrum Equity. The company said the deal complements Shutterstock’s content subscriptions with easy-to-use image and video design tools and expands Shutterstock’s “audience reach and addressable market by extending into the rapidly growing $8 billion market opportunity for creative software and design tools.” The...
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