U S photo trading site Shutterstock listed on the first day soared 27%

Beijing on October 12th news, according to foreign media reports, in October 11th, the United States photo and video trading site Shutterstock IPO transactions, its share price soared 27%.

the company is located in New York, mainly to provide copyright digital photos and video transactions. The main customers for the purchase of video materials are enterprises, which are mainly used in corporate websites, marketing materials, books and so on.

Shutterstock IPO price of $17, higher than the estimated value of $13 to $15, showing that its shares are sought after by investors. The same day, its shares closed at $21.66, or up to 27%. In the opening hours, or even more than 30%.

the company issued 4 million 500 thousand shares, a total financing of $76 million 500 thousand. It said in a regulatory document, the funds will be used for the company’s operations, some of which will also be invested in acquisitions and other fields, products.

so far, Shutterstock site has 550 thousand active paying members, last year, its revenue rose by 71% year on year. In the annual income, long-term subscriber contributions accounted for 59%.

said the site, plans to significantly enhance the size of the photo procurement customers, which will lower the price of photos, the average price will be around $3. Last year, the number of customers to pay to download up to 58 million times.

in 2011, the company received a profit of $21 million 900 thousand, with a total revenue of $120 million. In 2010, its profits and revenues were $18 million 900 thousand and $83 million, respectively.

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