According to Reuters, Shutterfly has officially filed court documents in an attempt to shut down Kodak’s My Kodak Moments app. Shutterfly — who purchased the Kodak Gallery from the bankrupt company for $23.8M last year — is claiming that the app is in violation of the terms of that sale, and demanding that it be taken down. Read more…
Over the last year, almost every time we’ve heard the word “acquisition” it’s been preceded by the word, or rather company, Shutterfly. That’s because Shutterfly has been very busy buying up companies and galleries and, fortunately for users, putting them to work in real ways.
It was less than two weeks ago that the new Shutterfly Mobile app was announced, a result of its Penguin Digital acquisition. And now, in time to steal a little bit of thunder from all of the CES rumors, sources claim that the photo storage and sharing site is acquiring yet another start-up. Read more…
It was a pretty popular week for photography-related iOS app releases. First Facebook steps all over Snapchat’s toes with its new ‘Poke’ app, and now Shutterfly has decided to enter the mobile market, putting its recent Penguin Digital acquisition to work. The launch comes just in time to squeeze in some last-minute personalized Christmas shopping, something that you couldn’t do with the old version of the app.
In the words of Shutterfly General Manager Karl Wiley, “Mobile commerce is now the new normal,” and Shutterfly doesn’t want to miss out on the new normal.
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Shutterfly is making a habit of gobbling up photo sharing services that camera companies no longer want to run. Less than half a year after acquiring Kodak Gallery from Kodak for a meager $23.8 million, Shutterfly has now taken another photo site off the hands of a company very similar to Kodak: Fujifilm. The Japanese imaging company has agreed to dump its photo sharing and printing business SeeHere into Shutterfly’s lap, shutting down the service on November 8, 2012.
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Most people already know that one of the ways Kodak tried to dig itself out of its sizable financial hole was to sell the Kodak Gallery to Shutterfly, and the service officially shut down just a few short days ago. Most Kodak Gallery users probably won’t be too upset with the move, but unfortunately, it looks like even the 2-million active users (the Kodak Gallery had a total of about 75-million) will have to go a few weeks without access to their photos as their accounts are transferred over. Read more…
The business world let out a collective gasp when it was announced back in April that Facebook had agreed to acquire Instagram for a whopping $1 billion. Eric Savitz of Forbes points out that photo publishing company Shutterfly — which has the same market valuation as Instagram — may actually be a smarter buy:
Shutterfly this year is expected to post $582 million in revenue, up a gaudy 137% since 2009. As of the end of March Shutterfly had zero debt and $144 million in cash with another $100 million due to flow in this year. At a market cap of nearly $1 billion, Shutterfly is being told by the stock market that it is worth the same as Instagram, which being acquired by Facebook for $1 bil- lion in cash and stock. While Insta- gram has far more users (30 million), it lacks a few business essentials such as revenue, profit and scale. Instagram has about a dozen employees. Shutterfly, with 1,000 employees, produces photo books, prints and other goods in factories in Phoenix and Charlotte.
An interesting fact from the article: by 2015, Americans will take an average of 322 photos per person per year, or roughly a photo a day.
Leave Instagram To Facebook: Shutterfly Is The Better Buy [Forbes]
Image credit: shutterfly by kate at yr own risk
Early last month we reported that Shutterfly had agreed to buy Kodak Gallery for a meager $23.8 million. The process, done by way of a “stalking horse bid,” meant that another company was allowed to make a competing bid for the gallery by April 20th.
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Back in November of last year, we reported that Kodak had put its Kodak Gallery service up for sale and was hoping to offload it for “hundreds of millions of dollars”. A couple months later Kodak filed for Chapter 11 bankruptcy, and now the company has finally found a buyer for the photo sharing and printing service: Shutterfly. The sale price? Only $23.8 million. If the sale gets approved by the US Bankruptcy Court in March, Kodak Gallery’s 75 million users will be transferred over to Shutterfly unless they opt out.
(via TechCrunch)
