Shutterstock closes $250M acquisition of Envato, doubling subscriber base to 1.15M

Shutterstock, Inc.

Aggregate consideration ~$250M after working capital adjustments; closed July 22, 2024.
Acquisition adds 650k subscribers, raising total to 1.15M subscribers.
Envato's content library adds 10M images, 6M videos, 1M audio clips, 0.5M templates, 0.2M graphics and fonts.
New credit agreement provides $125M term loan and $250M revolver; $280M drawn on closing.
Deal expands Shutterstock's reach into freelancers, small businesses, and new content types (code, web themes, fonts).

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