More news from the stock photography world this morning, after leader in the field iStock announced it would be expanding its services to include stock logo sales.
Shutterstock has just announced its acquisition of BigStockPhoto, a credit-based stock photo agency headquartered in Davis, California.
The terms of the acquisition were not disclosed.
Jon Oringer, founder and CEO of Shutterstock, said the expansion into the credit-based market will enable the company to “better satisfy the diverse payment preferences of stock photo buyers worldwide”. BigStockPhoto, founded in 2004, will remain a separate entity and Shutterstock (which operates based on subscriptions) plans to grow the company’s global presence by investing in marketing, infrastructure and user experience.
BigStockPhoto says it boasts a library of 3.7 million royalty-free photos and vectors in total, as well as a “vibrant community of image buyers and submitters” from across the globe.
And thus the consolidation of the online stock photography sector continues.
Who will be next?