shutterstock

Stock photography giant Shutterstock announced today that it has agreed to acquire the UK-based press photo agency Rex Features for $33 million in a mostly cash deal.

In an attempt to potentially flip the imaging licensing market on its head, Pixels.com has launched a new platform that puts the photographers in control for a change. By allowing image creators to manage every aspect of the process -- from prices, to what the license entails -- they're hoping to completely change who holds the power in the image licensing marketplace.

It's rather obvious that money is to be made in the stock photo industry. Shutterstock founder Jon Oringer is finding tremendous success with his 55 percent stake his the company. Since filing for an IPO and selling its shares publicly last October, Shutterstock's stock value has more than tripled. In the process, Oringer has become Silicon Alley's first billionaire.

This past Monday, stock photography behemoth Shutterstock filed documents with the SEC to have an IPO and list its shares on the New York Stock Exchange. The process requires Shutterstock to reveal its financial details, so the document provides an interesting look at how the company ticks and the state of the stock photography industry.