New York-based Shutterstock, Inc., well-known for its high-quality licensed photographs, illustrations, videos and music to businesses, announced last week its $15 million investment in China’s leading creative social network and artist platform ZCool Network Technology Ltd. Through this investment Shutterstock builds on an existing operational relationship.
ZCool, having nearly six million registered users, further positions Shutterstock in a fast growing market that began when ZCool became its exclusive distributor of its creative content in China in 2014. Shutterstock extended its partnership in 2016 by including creative images, and video collections for commercial use and presenting Shutterstock’s enterprise plans to Chinese customers.
In addition, ZCool’s e-commerce page distributes Shutterstock’s content on HelloRF.com and its Enterprise content through their Plus.HelloRF.com site. ZCool’s API is used by Shutterstock to power large technology platforms in China such as Tencent Social Ads and WPS Office. Shutterstock has also appointed a director to ZCool’s Board of Directors.
“We recognize ZCool’s achievement in building a strong creative community and their long term plan to cultivate a complete creative ecosystem. This investment forges a deeper partnership for us in China and provides the thriving and dedicated creative communities and global businesses across China access to Shutterstock tools and assets,” said Jon Oringer, Founder and CEO of Shutterstock.
