July 27, 2021
Shutterstock.AI to offer computer vision and predictive performance solutions with the goal of enhancing creative performance
New York, NY – July 27, 2021 – Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering full-service solutions, high-quality content, and tools for brands, businesses and media companies, today announced the launch of Shutterstock.AI, a newly formed subsidiary with insights and data at the heart of its mission. Additionally, the newly established Shutterstock.AI has acquired three leading AI platforms, Pattern89, Datasine, and Shotzr.
With these three acquisitions, Shutterstock.AI will continue to rapidly develop its own predictive performance capabilities to help creatives and customers accomplish their goals by making more data-informed content decisions.
In the near term, Shutterstock.AI will commercialize data assets within Shutterstock’s immense content library, which includes over 400 million images, videos, music tracks, and 3D models, as well as partner with innovative companies to grow their capabilities in computer vision and content insights to power the next generation of AI models.
“With these three acquisitions, Shutterstock.AI will help our customers globally solve the biggest creative challenge they have — discovering and selecting the right content that is relevant, and that resonates with audiences. We want our customers to create with confidence,” said Stan Pavlovsky, Chief Executive Officer at Shutterstock. “To complement this, Shutterstock.AI will also help new customer segments accelerate the development of artificial intelligence, by unlocking the power of the data associated with our vast content library. From autonomous vehicles, to content moderation, to AI powered process automation, Shutterstock.AI‘s high quality data and services will enable companies to develop the next generation of technologies.”
Shutterstock.AI sees the future of creativity through the lens of performance, as the engine that will transform customers’ ideas into accomplishments. With the acquisition of these three creative AI companies, and the creation of Shutterstock.AI, Shutterstock is redefining what creativity means, and helping solve our customers’ problems by expertly navigating the availability of content. Looking ahead, Shutterstock.AI will develop predictive creative AI models, leveraging cutting edge technology to help customers make more informed content choices, providing more confidence about the performance of what they produce.
About the Acquired Companies:
Pattern89: Pattern89 provides industry-level and custom insights for predictive performance at scale. Utilizing these insights allows marketers, agencies and creatives to make the right decisions — down to colors, copy and even emojis — without having to live A/B test. Pattern89’s sophisticated workflow allows real time monitoring of campaign performance, as well as one-click optimization. www.pattern89.com
Datasine: Datasine’s AI provides the insights and acumen for campaign decision-making. Their team of data scientists and psychologists have created algorithms that analyze the creative elements of an ad better than humans. The company’s artificial intelligence reviews past campaign performance of digital assets and provides recommendations for optimizing their performance. www.datasine.com
Shotzr: Shotzr uses human responsiveness to imagery, applying insights to any image for predictive analysis to ensure customers select the right image for social media and digital campaigns that will resonate with audiences. www.shotzr.com
The aggregate cash consideration paid for Pattern89, Datasine, and Shotzr was approximately $35 million. Shutterstock will provide additional detail during its second quarter earnings call on July 27th, 2021.
For more information, please visit www.shutterstock.AI.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK), is a leading global creative platform offering full-service solutions, high-quality content, and tools for brands, businesses and media companies. Directly and through its group subsidiaries, Shutterstock’s comprehensive collection includes high-quality licensed photographs, vectors, illustrations, 3D models, videos and music. Working with its growing community of over 1.8 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 380 million images and more than 22 million video clips available.
Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The Company also owns Offset, a high-end image collection; Shutterstock Studios, an end-to-end custom creative shop; PremiumBeat, a curated royalty-free music library; Shutterstock Editorial, a premier source of editorial images and videos for the world’s media; TurboSquid, a leading 3D content marketplace; Amper Music, an AI-driven music platform; and Bigstock, a value-oriented stock media offering.