Digital Image Rights
When Jon Oringer launched Shutterstock back in 2003, the leading provider of digital imagery licensing, the concept of digital photography wasn’t new, and competition in the field was pretty high. Everything started with the realization that getting image rights was quite a complicated process that involved picking an image and then making a phone call. That is where the idea of Shutterstock came in handy.
Oringer built the site himself from the ground up and started building a remarkable archive of his own digital stock photos. But as competition was increasingly growing, Oringer then went to differentiate this service by making Shutterstock a crowdsourced, organically grown, subscription-driven marketplace.
Today, Shutterstock boasts a vast collection of over 46 million images and 2 million video clips. It is one of the most sought-after spots among contributors to put their content on, but it’s also a popular place for photographers to sell their content. In addition to this, companies such as Facebook, Constant Contact, and CaféPress, invest in Shutterstock to power their websites with the imagery they need.
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Shutterstock’s success reminds us of the importance of creating a business that places great value on solving people’s problems. Watch the video above to learn some key business lessons from the founder of Shutterstock.