Shutterstock has announced the acquisition of PicMonkey, a web photo modifying and design platform, for $a hundred and ten million. The cash deal to acquire the Seattle-primarily based startup changed into finalized this week, notes PetaPixel. PicMonkey turned into founded in 2012 and offers clients internet-primarily based photo enhancing and design tools, with access to heaps of templates, graphics, photos, fonts, and greater. Shutterstock says the transaction expands the enterprise's competencies attain and taps into "the swiftly turning out to be $8 billion market possibility for inventive utility and design equipment."
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