SSTK - Shutterstock: Opportunities And Headwinds For This Digital Content Player

2024-06-04 15:32:22 ET

Summary

• Shutterstock, Inc. has announced the acquisition of Envato Pty Ltd., a digital creative assets and templates creator, for $245 million.
• The acquisition is expected to add 20% to annual sales and 15% to annual EBITDA for Shutterstock.
• The company's future remains uncertain due to the potential impact of AI on its business model, although it offers potential opportunities as well.

Early in April, I called Shutterstock, Inc. ( SSTK ) a business being stuck within an active AI debate, but a recent and quite substantial acquisition warrants an update on a cautious, but neutral, stance....

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