Shutterstock, a global marketplace for imagery, announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the offering has not yet been determined but TNW revealed that IPO filed for a proposed maximum offering price of $115 million. The bookrunning managers of the proposed transaction will be Morgan Stanley, Deutsche Bank Securities and Jefferies. RBC Capital Markets, Stifel Nicolaus Weisel and William Blair will be acting as co-managers.
Reuters reports earlier this month that Shutterstock is looking for underwriters for an IPO and today news confirmed their sayings. The company owns a library of photographs and illustrations that customers can license and download through subscription deals. The company has over 550,000 paying users, as of last year. Shutterstock recently appointed four new directors who had previously been involved with public companies, which is likely to have smoothed the company’s road to its IPO. Revlon CFO Steven Berns, former Oracle CFO Jeff Epstein, Bankrate CEO Thomas Evans and News Corp executive Jonathan Miller all joined the company in April.