secwatch.observer — SEC 8-K summary
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Issuer:     Shutterstock, Inc. (SSTK)
CIK:        0001549346
Form:       8-K
Filed at:   2023-05-23T23:59:59+00:00
Accession:  0001140361-23-026154
Event type: m_and_a
Sentiment:  positive
Materiality: 0.50
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shutterstock acquires GIPHY from Meta for $53M cash; targets June close
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- Purchase price $53M net cash; funded from cash-on-hand and existing credit facility.
- GIPHY serves 1.7B daily users with 1.3B daily search queries and 15B daily media impressions.
- Meta enters into API agreement for continued access across its platforms.
- Shutterstock maintains 2023 revenue and adjusted EBITDA margin guidance.
- Transaction expected to close in June 2023, subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1549346/000114036123026154/0001140361-23-026154-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1549346/000114036123026154/brhc20053362_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-026154

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer