Shutterstock's ability to cultivate a healthy and expanding marketplace for both customers and contributors remains a key competitive advantage and a crucial component of our sustained growth.
Sentiment: POSITIVE
Shutterstock has evolved from an image-based marketplace for small businesses to a much broader platform, with a large and expanding addressable market opportunity.
The growing demand for content across our platform delivers bigger payouts to our contributor base and encourages them to upload fresh content to Shutterstock, further facilitating the network effect of our business.
Some people are serial entrepreneurs and want to just move on to the next thing. They just want to clean the slate and start from scratch. I feel that sometimes, too, and the way that we do that here is we build things inside Shutterstock: we launch new products all the time.
I opened up Shutterstock to the whole world. I created a contributor community that anyone could give stock photography a shot.
I started Shutterstock without any outside funding; I believe in creating a lean startup. By not taking outside investors early, I was forced to use every dollar I had as efficiently as possible. And I was able to keep a large part of the company.
We continually hear from our engaged customer base that Shutterstock's content is a true differentiator, given not only the size of the library but also the quality and diversity of the images we offer.
As they grow, companies saturate their markets, become more complex and difficult to manage, and face larger and more entrenched competitors.
Promoting a stock is like making a movie. You've got to have stars, props, and a good script.
From the business point of view, always encouraging the people in our company to own stock in the company, and if we're going to build something great, to have a lot of people share in the benefits of that greatness.
When I started Shutterstock, I tried to get people access to big events. It's very hard to keep up, to publish them quick, and to get the right photographers.
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