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S&P upgrades Shutterfly credit rating from negative to developing Earnings reports News 

S&P upgrades Shutterfly credit rating from negative to developing

GaryPageau , , , ,
S&P Global Ratings today upgraded the credit rating for Photo Holdings LLC (Shutterfly LLC) from negative to developing, based on the improving fortunes of North America’s largest personalized photo printing company. The company outperformed Shutterfly’s 2023 expectations by improving cash flow to $82 million, compared to a $31 million deficit the year before. In a press release, S&P stated: As... Read More
Shutterfly customer data not exposed in latest breach News 

Shutterfly customer data not exposed in latest breach

GaryPageau , ,
Personalized photo products leader Shutterfly was again the target of a data breach but said customer data was not exposed. According to Cybernews, Shutterfly was the latest in a batch of high-profile victims – like Warner Bros. Discovery and AMC Theatres – announced by the Russian-affiliated Cl0p ransomware group. Shutterfly’s Vice President of Communications, Jennifer George, confirmed to Cybernews the company... Read More
New York Times rates online photo services Marketing News 

New York Times rates online photo services

GaryPageau , , , ,
The New York Times‘ influential gear blog Wirecutter did an extensive round-up of online photo services. The round-up was conducted by Phil Ryan, Wirecutter’s senior staff writer for camera coverage. Previously, for more than 13 years, Ryan covered cameras and other photo-related items for CNET and Popular Photography. The top choice was Nations Photo Lab, which has been a favorite... Read More
Creativity as a driver of photo business, with Wendi Flores and Steve Klinetobe Marketing Podcasts 

Creativity as a driver of photo business, with Wendi Flores and Steve Klinetobe

GaryPageau , , , , , , ,
Gary Pageau of the Dead Pixels Society talked with Wendi Flores, of Foto Crush, and Steve Klinetobe, of Odd Comma. In this interview, Flores and Klinetobe talk about how photo companies can use creativity to boost sales and be more effective than ever before. In this episode, you will learn the following: How creativity is now a currency, and the need for brands to be emotively authentic... Read More
Shutterfly acquires design and decor marketplace, Spoonflower Acquisitions News 

Shutterfly acquires design and decor marketplace, Spoonflower

GaryPageau , , , ,
Shutterfly announced an agreement to acquire Spoonflower, a Durham, N.C.-based artists marketplace, in “an accretive acquisition for approximately $225 million of enterprise value subject to certain working capital and other adjustments,” the company said in an announcement. The acquisition, which is subject to regulatory approvals and customary closing conditions, is expected to close in the third quarter of 2021. According... Read More
WSJ: Shutterfly in talks to go public. Again. News 

WSJ: Shutterfly in talks to go public. Again.

GaryPageau , ,
Less than two years since leading photo personalization company, Shutterfly Inc., went private through its acquisition by Apollo Global Management, the Wall Street Journal reports the company is in talks to go public as part of the latest wave of financial tools called “special-purpose acquisition companies, or SPACs.” According to the article by Cara Lombardo and Miriam Gottfried, Shutterfly is... Read More
District Photo announces top management change News People on the Move 

District Photo announces top management change

GaryPageau , ,
District Photo Inc. (DPI), the Beltsville, Maryland-based personalized photo print leader, announced Chris Hughes, current CEO of the Harrier Group LLC, will become president March 1. Harrier Group is the U.K. subsidiary of District, known for its Truprint brand (which later became Snapfish). Hughes will also lead the company’s Australian subsidiary, Prima Printing. Neil D. Cohen, the longtime CEO who... Read More
PlanetArt acquires CafePress from Shutterfly News 

PlanetArt acquires CafePress from Shutterfly

GaryPageau , , ,
Personalized product platform PlanetArt acquired the assets of Louisville, KY-based CafePress from Shutterfly LLC’s Snapfish business unit. Based in Louisville, Kentucky CafePress is one of the first web-based printing companies, founded in 1999. The financial terms weren’t disclosed. Snapfish acquired CafePress in 2018 for $25.3 million. In turn, Snapfish was acquired by Shutterfly earlier this year, as part of its deal to go private with... Read More
Shutterfly adds PPE products, donates $750,000 to COVID-19 affected communities New Products News Updates 

Shutterfly adds PPE products, donates $750,000 to COVID-19 affected communities

GaryPageau , , ,
Shutterfly Inc. announced the company, via its Shutterfly for Good platform, has donated more than $750,000 to organizations nationwide that are helping communities most in need during the COVID-19 pandemic. Shutterfly has donated $495,000 to multiple organizations such as those supporting the manufacturing and distribution of personal protective equipment (PPE), food-related charities, healthcare and more via its partnership with The... Read More
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
CEWE to supply photo products to U.K. drug chain Boots in 2020 News 

CEWE to supply photo products to U.K. drug chain Boots in 2020

GaryPageau , ,
Oldenburg’s CEWE Foundation & Co. KGaA will provide its full range of photo services to Boots, the largest British and Irish drugstore chain. Under the heading “Bootsphoto powered by CEWE“, customers will be able to order CEWE products both on the Boots website and in more than 1,000 branches, the announcement said, adding around 2,500 CEWE photo stations and product... 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