Valued at an enterprise value of US$4.8 billion, Getty Images, a well-known stock photography agency, will go public on July 25, 2022, as announced on December 10, 2021, and reconfirmed on July 22, 2022.
On December 10, 2021, Getty Images announced it has partnered with CC Neuberger Principal Holdings II (NYSE: PRPB). Upon completing the business combination, the company will be renamed Getty Images Holdings, Inc. and will trade common stock and warrants on the New York Exchange under the symbols “GETY” and “GETY WS”, respectively. Getty Images was valued at US$4.8 billion.
What happened the first time?
As you might have inferred from the title, this isn’t the first time Getty Images is going public. Getty Images had been publicly traded since 1996 until July 2, 2008, when they announced the acquisition by Hellman & Friedman valued at US$2.4 billion.
What will change with Getty Images?
Besides a different trading model and ownership, there won’t be any changes to Getty Images, especially for customers who won’t notice a thing.
As announced by Getty Images itself, Mark Getty will continue serving as Chairman, Craig Peters will continue his role as the CEO of Getty Images, and the management team is also expected to remain unchanged. Getty Images will also partner with the Getty family and Koch Equity Development affiliate, Koch Icon Investments.
How will Getty Images invest the money?
With over 480,000 contributors and over 300 premium content partners, Getty Images will continue to deliver high-quality, premium images, for which it is best known. The investment will drive future growth and help Getty release more products and services for creatives and customers.
With the fast-growing popularity of videos compared to photos (videos now represent 20% of Getty’s sales, compared to 5% 15 years ago), we can expect Getty to invest more into this niche. However, this contradicts the recent announcement of iStock to retire its Video Editor. Yet it might be a signal that Getty is preparing something bigger, like a brand-new, much more sophisticated video editor or even a complete editing platform.
The release of VisualGPS Insights at iStock and Getty Images, a tool that recommends which type of visual content resonates the most with the consumers from a specific country, culture, and gender, suggests that Getty will invest even more in expanding its customer base to small and medium-sized businesses.
Frequently asked questions
When did Getty Images go public?
Getty Images went public on July 25, 2022, when it partnered with CC Neuberger Principal Holdings II (NYSE: PRPB) and the Getty family and Koch Equity Development affiliate, Koch Icon Investments.
Is Getty Images a listed company?
Yes, on July 25, 2022, Getty Images became a listed company traded with common stock and warrants on the New York Exchange under the symbols “GETY” and “GETY WS”, respectively.
Sources
- Wikipedia contributors, Getty Images, Wikipedia, The Free Encyclopedia. July 12, 2022, 17:29 UTC. Accessed July 23, 2022.
- Getty Images To Become Publicly Traded Company Through Combination With CC Neuberger Principal Holdings II, Company News, Getty Images Press. Published December 10, 2021. Accessed July 23, 2022.
- Getty Images And CC Neuberger Principal Holdings II Complete Business Combination, Company News, Getty Images Press. Published July 22, 2021. Accessed July 23, 2022.
About your guide
Matic Broz is a multifaceted creative professional, with experience as a photographer, graphic designer, and business owner. He has a decade of experience in helping other creatives improve their craft and start their own businesses. His writing and research have been featured in notable publications such as The Guardian, PetaPixel, and USA Today. Additionally, his scientific research has been recognized with a cover feature in the prestigious MDPI-owned journal. In his leisure time, he enjoys photography, hiking, and spending time with dogs. Read more
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