Aleck Avalos
11/6/15
Per. 6
Shutterfly
Shutterfly enables users to create personalized photo gifts such as Samsung Galaxy and iPhone cases, photo books, wall art, and home decor. It competes with Hewlett-Packard Co's Snapfish service, which Reuters reported in September 2014 is also up for sale.
Shutterfly was founded in December 1999 as an internet-based social expression and personal publishing service. Its corporate headquarters are located in Redwood City, California. The company’s flagship product is its photo book line.In 2000, Shutterfly partnered with Kodak to offer their customers film developing and scanning services. In 2012, the Shutterfly acquired kodak gallery from eastman kodak Co. for 23.8 million.
In 2001, Shutterfly secured 3 million in incremental capital which was used to expand its infrastructure. The funds include an equipment financing line from Silicon Valley bank. In 2002, the company exceeded its expected earnings and began considering an IPO for 2004 however, it did not take place until 2006. In September 2006, the completed their initial public offering and their common stock was officially listed on the nasdyq Global Select Market under the symbol sfly.
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