Shutterfly Buys Photo-Sharing Startup

ThisLife's two founders will join Shutterfly's team after the deal

   

Shutterfly Buys Photo-Sharing Startup

SHUTTERFLY LOGO 2010 1 300x300 Shutterfly Buys Photo Sharing Startup

Social media and personal publishing company Shutterfly (NASDAQ:SFLY) said on Monday it will purchase ThisLife, an online photo- and video-sharing start-up.

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Under the deal, ThisLife co-founders Andrea Johnson and Matt Johnson will become part of Shutterfly’s team, Forbes noted.

Terms of the acquisition were not disclosed, but ThisLife obtained $2.75 million in seed financing in June of last year.

In a statement, Shutterfly said acquiring ThisLife would bolster its storage and sharing offerings for digital products. Shares of Shutterfly slipped fractionally in Monday afternoon trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/01/shutterfly-buys-photo-sharing-startup/.

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