Shutterstock Takes Over Envato For $245 Million

Shutterstock is one of the familiar brands in the arena of offering photos and images for use in various publications and web development. Most recently, Shutterstock announced they will acquire Envato for $245 million.

Envato is one of the popular firms in offering digital and creative assets through a number of services under them, including ThemeForest which focuses on templates and web themes, VideoHive which offers digital assets focusing on video, AudioJungle which offers digital assets in the form of audio, GraphicRiver which offers a variety of graphics and muka-type, CodeCanyon which offers source code for web and application development, as well as various other services under them.

In addition, Envato also has its own subscription service called Envato Elements which includes various digital assets for one monthly subscription price.

With this acquisition, Shutterstock continues to strengthen their position in the digital and creative assets arena – while now covering an even larger market.

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