SUN VALLEY, ID - JULY 14: Jon Oringer, chief executive officer of Shutterstock, attends the fourth day of the annual Allen & Company Sun Valley Conference, July 14, 2017 in Sun Valley, Idaho. Every July, some of the world's most wealthy and powerful businesspeople from the media, finance, technology and political spheres converge at the Sun Valley Resort for the exclusive weeklong conference. Drew Angerer/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==
Shutterstock Inc is turning to Canada to help reinvent itself.
The New York-based company, which rose to prominence last decade by amassing a vault of stock photos just as advertising on Facebook, Google and Instagram exploded, is moving more into original content. It announced the purchase of Toronto-based Flashstock for US$50mil (RM214.85mil) in June to offer companies access to photographers and videographers. That builds on its US$32mil (RM137.50mil) purchase of Montreal-based PremiumBeat in 2015, which gave it access to a network of musicians composing new tunes.
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