I like San Francisco, but I don't think I'd want to work in Palo Alto. It seems like a pretty rough commute. In many ways, I think New York has a lot of things the West Coast doesn't have.
Many entrepreneurs have shifted their focus to pursuing VC funding as a primary strategic priority instead of concentrating on generating value for their users. This is worrisome because raising capital alone is misleading as a benchmark for success.
Try to rally up as many people as you can with as much information as you can to try to get it to appear in front of the right people in the organization who are the decision-makers to greenlight the project.
Offset is helping to expand our relationship with large enterprises and serve a broader set of imaging.
Was I going to start companies outside of Shutterstock or inside? Going public kind of meant I was going to start them inside, and I kind of thought this through and decided that if I was going to do that, I was going to continue to operate Shutterstock like it was an incubator of startups.
It's typical for video customers to often use licensed music - whether a soundtrack, background music, or sound effects - to complement their video projects.
Working with limited resources is an excellent way to hone skills that will serve you well for the rest of your career. You will prioritize profitability from the start.
Shutterstock has the tech ethos. Rex has the relationships, packaging, and merchandising know-how.
I wanted a CFO with public company experience; I needed an HR department, new office space, and a board which could help me grow the business. Insight, the private equity firm I chose, helped me with all that.
I met with several public company CEOs to learn about their experiences of going public and listened to as many earnings calls as I possibly could.
We look for the scrappy entrepreneur: the kind of person who will get things done without looking to spend money right away.
Evolution has been the key tenet of success over the past 13 years, and we have transformed from a single subscription e-commerce image business into a company with a diversified portfolio of content offerings, servicing the needs of businesses of all types and sizes globally.
I hadn't really worked in an office before Shutterstock, so I didn't have the experience of building a culture, nor did I understand how important that is for attracting and retaining the best talent.
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.
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 started Shutterstock out of my own need. I'd previously created a few software companies, and each time, I struggled to find affordable images to use on my websites.
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.
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.
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.
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.