Stock image and video service Shutterstock today announced that it has acquired WebDAM, a provider of web-based digital asset management software. The financial details of the transaction were not disclosed.
WebDAM was founded in 2005 and never took any outside funding.
The service offers a number of solutions for marketing and creative teams to organize, distribute and collaborate around digital assets. WebDAM allows these teams to work with images and videos (the core of Shutterstock’s business), but also other kinds of documents. Its customers include a wide variety of major companies, including the likes of salesforce.com, Intel, Symantec, GE, Kawasaki, Alaska Airlines and many others.
For the time being, WebDAM will continue to follow its product roadmap and operate under its own brand. Its co-founders Jody Vandergriff and Steve Rabkin will also stay on after the acquisition closes. The company currently has 25 employees.
Shutterstock says the acquisition will allow it “to deepen its relationship with marketing and creative teams and serve a broader range of their needs.”
“Shutterstock is focused on extending our relationships with large enterprises, and by acquiring WebDAM, we can offer a more seamless experience to customers as they license, download, store and share digital assets,” said Jon Oringer, Founder and CEO of Shutterstock in a statement today. “WebDAM also aligns with our company culture and focus on innovation. We want to provide the tools for businesses to do their best work and this is an exciting opportunity to broaden our services.”
Shutterstock went public in 2012. Even before its IPO, the company was always conservative about making acquisitions. Its last acquisition was that of BigStockPhoto back in 2009 . Since then, it it has relied on organic growth to expand its user base. Last year, it rolled out Offset, a high-end imagery service, and digital learning marketplace Skillfeed.