---
schema_version: "secwatch.filing_event.v1"
accession: "0001549346-23-000035"
form_type: "8-K/A"
ticker: "SSTK"
cik: "0001549346"
company_name: "Shutterstock, Inc."
filed_at: "2023-08-31T23:59:59+00:00"
generated_at: "2026-06-11T01:10:45.976218+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Shutterstock discloses Giphy's FY2022 financials: $94.4M net loss, no revenue, going concern doubts

## Summary
- Giphy's audited FY2022: net loss $94.4M, operating cash flow -$56.1M, accumulated deficit $405M.
- Giphy had no external revenue since Meta acquisition in July 2020; relied on Meta for funding.
- Purchase price $53M net cash; pro forma combined financials furnished as Exhibit 99.3.
- Ernst & Young audit includes going concern paragraph citing recurring losses and capital deficiency.
- As of Dec 31, 2022: Giphy total assets $14.9M, total liabilities $14.2M, stockholder's equity $646K.

## SEC filing metadata
- accession: 0001549346-23-000035
- form_type: 8-K/A
- ticker: SSTK
- cik: 0001549346
- company_name: Shutterstock, Inc.
- filed_at: 2023-08-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1549346/000154934623000035/0001549346-23-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1549346/000154934623000035/sstk-20230830.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001549346-23-000035
- JSON: https://secwatch.observer/filing/0001549346-23-000035.json
- Plain text: https://secwatch.observer/filing/0001549346-23-000035.txt

## Key facts
- M&A Transactions
  Shutterstock, Inc. completed an acquisition involving Meta Platforms, Inc. for $53 million in net cash, in addition to cash acquired, assumed debt and other working capital adjustments (closed 2023-06-23).
  - Action: acquisition
  - Counterparty: Meta Platforms, Inc.
  - Consideration: $53 million in net cash, in addition to cash acquired, assumed debt and other working capital adjustments
  - Closing: 2023-06-23
  source text: has sold, and the Company has purchased, all of the issued and outstanding capital stock of Giphy. The consideration payable by the Company pursuant to the Purchase Agreement is $53 million in net cash, in addition to cash acquired, assumed debt and other working capital adjustments. This Form 8-K/A has been filed to amend and supplement the Form 8-K to provide the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549346/000154934623000035/0001549346-23-000035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.