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Shutterfly trims 160 jobs, will transfer some to Minnesota News Opinion 

Shutterfly trims 160 jobs, will transfer some to Minnesota

GaryPageau , ,
Newly privately held photo personalization giant Shutterfly Inc. is already trimming the ranks, according to media reports. The San Francisco Chronicle reports the company is laying off more than 150 employees from its Redwood City headquarters, according to a California Employment Development Department filing. According to the report, 66 employees will lose their jobs and 87 workers will see their... Read More
Apollo completes Snapfish acquisition, combines with Shutterfly Acquisitions News 

Apollo completes Snapfish acquisition, combines with Shutterfly

GaryPageau , ,
Apollo Global Management Inc. announced the successful completion of their previously announced acquisition of Snapfish, LLC and the combination of Snapfish with Shutterfly Inc., which was acquired by the Apollo Funds Sept. 25, 2019. According to the announcement, Snapfish owners became significant minority owners in the combined Shutterfly and Snapfish business. “As a business dedicated to connecting people, places and... Read More
Timing is everything: Wag struggles as CEO leaves News Opinion 

Timing is everything: Wag struggles as CEO leaves

GaryPageau ,
Business Insider reports Wag Labs Inc., the dog-walking startup that was the previous job for new Shutterfly CEO Hilary Schneider, has had SoftBank’s Vision Fund giving up its nearly 50% stake in Wag!, following Schneider’s departure, at value far less than the $665 million valuation. Vision Fund invested $300 million in Wag last year. Bloomberg reported in October the company... Read More
Small world: Shutterfly CEO has connection to former Shutterfly CEO News Opinion People on the Move 

Small world: Shutterfly CEO has connection to former Shutterfly CEO

GaryPageau , , , 1 Comment
Newly private photo personalization leader Shutterfly Inc. named a new CEO last week, a move that surprised many industry watchers. Ryan O’Hara had only come on board in June, 2019, succeeding in an orderly manner the departing Christopher North. North’s departure was announced in February, and the company had three months of transition to O’Hara, during which the company announced... Read More
Shutterfly names Hilary Schneider to president, CEO News People on the Move 

Shutterfly names Hilary Schneider to president, CEO

GaryPageau 2 Comments
Shutterfly, Inc. appointed Hilary Schneider as president and CEO, effective Jan. 15, 2020, succeeding Ryan O’Hara, who had served as president and CEO since June. No reason was provided for O’Hara’s departure; the statement said he moves to a role as an advisor to parent company Apollo supporting “transactions in the technology and media sectors.” The company also appointed Dwayne... Read More
Shutterfly targets diversity in new holiday campaign Marketing News Opinion Promotions 

Shutterfly targets diversity in new holiday campaign

GaryPageau , , , , , , ,
Photo personalization leader Shutterfly launched on Monday its first advertising campaign in three years, according to Mediapost.com. The “Anything Flys” campaign emphasizes the importance of connecting with friends and family and encourages users to send cards for any reason, not just for the holidays. The campaign was created by Argonaut, a marketing agency with high-profile consumer goods company clients like... Read More
Reimagined JCPenney store includes Shutterfly-branded studio News Opinion 

Reimagined JCPenney store includes Shutterfly-branded studio

GaryPageau , ,
JCPenney launched a completely reimagined format store just outside of Dallas in Hurst, Texas, representing the company’s strategy “to put the customer at the center of its business.”  The company stated the “experiential store” is built around customer data and insights and showcases the JCPenney’s corporate mission to redefine itself in the wake of a difficult retail market. Of interest... Read More
WSJ: Banks struggling to sell $2 billion debt for Apollo purchase of Shutterfly News Opinion 

WSJ: Banks struggling to sell $2 billion debt for Apollo purchase of Shutterfly

GaryPageau , ,
The Wall Street Journal is reporting Barclays PLC, Citigroup Inc. and other investment banks hired by Apollo Global Management have struggled in recent days to raise about $2 billion of debt for the buyout of Shutterfly Inc. Due to the tepid reception to the debt, the banks agreed to buy up to $280 million after failing to find enough outside investors,... Read More
Shutterfly sale closes for $2.7 billion Acquisitions News Press releases 

Shutterfly sale closes for $2.7 billion

GaryPageau , ,
Shutterfly, Inc. stockholders receive $51.00 per share in cash in a transaction with an enterprise value of $2.7 billion REDWOOD CITY, Calif.–(BUSINESS WIRE)–Shutterfly, Inc., a leading retailer and manufacturing platform dedicated to helping capture, preserve, and share life’s important moments, and affiliates of certain funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (together with its consolidated... Read More
App updates, rumors, financial news for the week of Aug. 30 News People on the Move Tips and tricks 

App updates, rumors, financial news for the week of Aug. 30

GaryPageau , ,
New apps and updates Shutterfly app updates adds printing to retail 64BitApps releases Image Plus v.1.3 for macOS Nikon Z Series adds dedicated 3D LUT for N-Log Google Photos adds OCR recognition to iOS and Android apps, via BGR Rumours and items from around the internet ‘Polaroid’ film: A Near Deal With Netflix Becomes a Legal Horror, via Hollywood Reporter Long-lost family photo album finds its way back... Read More
More changes at the top for SFLY: CTO Satish Menon resigns News People on the Move 

More changes at the top for SFLY: CTO Satish Menon resigns

GaryPageau , ,
When Shutterfly Inc. goes under new ownership this fall, there will be a whole new look to the executive suite. According to the company’s most recent Form 8-K, longtime CTO and senior vice president Dr. Satish Menon notified the company Aug. 8 of his intention to resign effective Sept. 6, 2019. The filing stated Dr. Menon will stay on as... Read More
Shutterfly Announces Second Quarter 2019 Financial Results Earnings reports Opinion Press releases 

Shutterfly Announces Second Quarter 2019 Financial Results

GaryPageau , , 1 Comment
Shutterfly announced second-quarter financial highlights, for the period ending June 30. (To read the entire press release, click here.) The company, which entered into an agreement in June to be acquired by Apollo Global Management in a deal expected to be concluded early in the fourth quarter. Shutterfly reported net revenue of $473 million, with an operating loss of $7.9... Read More
Should shareholders vote for Shutterfly sale? Analyst says yes, with reservations News Opinion 

Should shareholders vote for Shutterfly sale? Analyst says yes, with reservations

GaryPageau , , , , , , , , , ,
While most industry watchers have acquiesced that the acquisition of Shutterfly by Apollo Global Management, with the corresponding merger with Snapfish, is a done deal, there are still some steps to be completed by the expected close by the end of the year. First, the merger is subject to government scrutiny under the Hart-Scott-Rodino Act, designed to maintain competition. As... Read More
DOJ files suit to block Quad purchase of LSC Communications Feature News Opinion 

DOJ files suit to block Quad purchase of LSC Communications

GaryPageau , , , , ,
The U.S. Department of Justice (DOJ) Antitrust Division, filed a civil antitrust lawsuit in the U.S. District Court for the Northern District of Illinois June 20 seeking to block printing giant Quad/Graphics Inc.’s proposed $1.4 billion acquisition of competitor LSC Communications. The all-stock transaction was announced on Oct. 31, 2018, and was approved Feb. 22, 2019, by shareholders of both companies. Either... Read More