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Shutterstock finalizes acquisition of Envato
Credit: Shutterstock
Following the announcement on May 2, 2024, Shutterstock completed the acquisition of Envato Elements over two and a half months later, on July 22, 2024.
This acquisition aligns with the launch of Envato’s new visual brand identity, which has been in development for several months, according to our sources, and is expected to roll out in the coming days.
"We’re thrilled about this transaction and looking forward to welcoming the Envato team to Shutterstock"
“Envato is perfectly positioned to serve a growing customer need for an unlimited multi-asset subscription to a library of creative content, with an emphasis on videos, audio, graphics, fonts and templates. By extending our reach to faster growing audiences and into additional content types, this acquisition will help Shutterstock fulfill its mission of connecting customers to the content they need, wherever they are so they can create, build and share their next big idea,” continued Shutterstock CEO Paul Hennessy
Starting from its humble beginnings in a Sydney garage in 2006, Envato has evolved into a leader in digital creative assets and templates. Over the years, Envato has generated more than $1.3 billion in earnings for its author community and has grown to 650,000 subscribers.
In addition to more than doubling Shutterstock’s subscriber base, Shutterstock’s content library will expand by 10 million images, 6 million videos, 1 million audio clips, 500,000 templates, and 200,000 graphics & fonts. Furthermore, Shutterstock will be able to diversify into new content types, including product mock-ups, web and code themes, fonts, and templates.
This is just the latest growth move for Shutterstock in recent years. Shutterstock has previously also acquired Pond5, Bigstock, PremiumBeat, and TurboSquid, to name a few.
