NEW YORK: Shutterstock has launched a custom content creation platform, Shutterstock Custom.
On the platform, Shutterstock users can request custom content from its network of freelancers, including photos, videos, gifs, cinemagraphs, and 360s, according to a statement.
Shutterstock acquired the proprietary platform from Flashstock when it purchased the company for about $50 million in cash in July. It’s launching the product with additional features, according to Grant Munro, the founder of Flashstock and the GM of Shutterstock Custom.
"It’s a reincarnation of the product with more meat behind it," Munro said.
Shutterstock Custom is being introduced to Shutterstock’s 1.7 million current customers and future prospects, and has now been integrated with other products the company owns, such as Shutterstock Editor.
Munro explained the platform would help marketers scale across multiple social channels so they can interact with audiences using customer content.
Before being acquired, the fast-growing Flashstock needed access to additional capital, Munro said. Instead of accepting a venture capital investment, it agreed to be acquired by Shutterstock, which would also allow it to tap into the larger company’s network, resources, and datasets. The deal was also billed as a way for Shutterstock to enter a new market, serving custom content.
Shutterstock Custom is supported by Shutterstock's in-house communications team and multiple agencies around the world including Burson-Marsteller in the U.S., MWWPR in the U.K., and Ogilvy PR in Germany and Brazil.
Flashstock does not continue under its own ownership structure and the brand no longer exists.
Shutterstock’s revenue growth for the second quarter fell short of analyst expectations, increasing 8% to $134 million against predictions it would increase by 11%. The company went public in October 2012. Last year it hired Siobhan Aalders as comms head.
Shutterstock also owns Bigstock, a stock media agency; PremiumBeat, a curated royalty-free music library; Rex Features, a source of editorial images for media; and Webdam, a digital management service.