5/2/2023 0 Comments Shutterstock foundedOver the last few years, Shutterstock has seen its market cap drop from a 2014 peak at around $3.5 billion down to less than $2 billion. Jon Oringer, who founded New York City-based Shutterstock in 2003, announced today that he would. However, the company's net income dropped by 63% to $20.1 million in 2019. It’s an end of an era, and you might just want to snap a photo and upload it for others to purchase. The company has begun its search for a successor and is ‘pleased with the progress so far’ more on this as we get it. The news comes alongside Shutterstock's Q4 2019 financial results, which reveal that the company made $166.4 million in revenue, a 3% increase over the same quarter in 2018. Shutterstock founder and current Executive Chairman of the Board Jon Oringer has been appointed CEO until a replacement can be found. Pavlovsky joined the company in 2019, bringing what Oringer says is 'the ideal skill-set and mind-set to take our business to the next level and it is all of these qualities that gave us the confidence to elevate him to COO, President, and now CEO.' Together we question, learn, collaborate, and achieve. Shutterstock was launched in 2003 out of Oringer's small New York City apartment and the company has managed to be profitable every year since. Shutterstock helps creative professionals from all backgrounds and businesses of all sizes produce their best work with incredible content and innovative tools, all on one platform. I’m excited for my new role as Executive Chairman of Shutterstock: Jon Oringer founded Shutterstock in 2003, after creating a dozen tech companies that each fizzled after a few months. Offset is where you will find authentic lifestyle content from award-winning artists around the world. Oringer announced the news in a Medium post on Thursday, explaining that Shutterstock has 'reached a pivotal juncture in our growth trajectory our business has grown and evolved to a point where we could all benefit from a CEO that has a different set of skills than I have.' Founded in a belief that no one holds the rights to inspiration, we believe everyone should have the ability to tell amazing stories. Stan Pavlovsky, Shutterstock's current President and COO, will take over the role of CEO starting on April 1. Regionals 2022 The Idea for This Coffee Brand Came to Him in an Instant. Oringer won't be leaving the company, however he'll transition to a new role as Executive Chairman of the Board. (NYSE: SSTK), the leading global creative platform for transformative brands and media companies, today announced that Paul Hennessy has been named Chief Executive Officer, effective July 1, 2022.Mr. Skinnygirl Margarita founder Bethenny Frankel followed these five simple guidelines. Jon Oringer, founder of stock image company Shutterstock, has announced plans to step down from his current role as CEO after 16 years.
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