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Shutterstock CEO on IPO Debut

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  • Description

    Shutterstock CEO Jon Oringer on why he decided to go public.

  • Duration 2:01
  • Date

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Alright -- every shares of -- stock.

Which sells online photos and video to businesses.

Debuting on the NYSE today and the IPO began priced at seven dollars per share now is up 30%.

To 21 -- two bucks.

Joining us now on his great day for ham cheddar stock CEO and founder John or injure thanks for BM -- -- thanks for having me the FaceBook debacle.

The media called that in we actually saw some companies hold back on plans to do IPOs you move forward why -- do that.

Yeah I will I -- -- this coming back in 2003 we've been at this for awhile.

Com we're not doing this for any short term -- reason we're in this for the long term and we sold business products to businesses.

So.

It's different story.

Now you're stock popping five bucks being up by 2030% on the opening day.

Don't kind of wish you had that money coming into the company to use for fun of the business is -- of that money going to traders who just go in and -- out.

Delegate it's it's not easy to price and we did our best and we're very happy with the outcome right now.

Again we're not in this for the short term -- what happens in the next few days this is we're we're talking about years I've been at this for nine years now coming acquisition offers -- -- turn down in the past year before deciding go out on your own.

Many from big companies we recognize here.

And did did you today read more money in terms of valuation of the company then you've got in a takeover offer yes he did how much more.

-- 10% -- 100% what's its multiples more multiples more.

All right now let's talk about this is itself so -- you're selling a stock of photography with this is mostly online rather than selling stuff -- newspapers -- put on paper -- -- the amount of the images being used for web sites and for all the mobile devices we carry around with us every day.

There's just such a need for these images and 70% came to businesses and using them and changing now more than two -- -- you sold 250 million photos so far and I can get hold of that -- all you can eat menu for a -- 25 dollars alright John under.

Congratulations thank you on your IPO fearless our fearless he must -- needed the money.

Okay.

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