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" As we continue to grow, the question is, how do you keep the company as innovative as it was 15 employees ago? "
Jon Oringer
You
Question
Employees
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" Rex is 60 years old with 13 million images and 10 million in archive. It's the first time we've had a historic archive to work with, which is super interesting. "
Jon Oringer
Time
First Time
Interesting
" I wanted a CFO with public company experience; I needed an HR department, new office space, and a board which could help me grow the business. Insight, the private equity firm I chose, helped me with all that. "
Jon Oringer
Help
Me
Space
" We continually hear from our engaged customer base that Shutterstock's content is a true differentiator, given not only the size of the library but also the quality and diversity of the images we offer. "
Jon Oringer
Size
Diversity
Library
" I started Shutterstock without any outside funding; I believe in creating a lean startup. By not taking outside investors early, I was forced to use every dollar I had as efficiently as possible. And I was able to keep a large part of the company. "
Jon Oringer
I Believe
Believe
Early
" We believe PremiumBeat will accelerate our mission to make licensable music accessible to every creator. "
Jon Oringer
Creator
Will
Music
" As I saw more and more people buying the images that were happy buyers, and people selling the images that were happy with how the market was pricing them, I started to get the sense this could be the go-to place for businesses to get the images they need. "
Jon Oringer
Selling
Need
People
" Many entrepreneurs think that cash is the ultimate solution to all of their problems: the one thing standing between them and their dreams. "
Jon Oringer
Think
Solution
Problems
" Rex has photographers around the world - it's a higher touch business: there are a lot of relationships involved. If you throw an event, there are certain photographers you've worked with before and you want there. "
Jon Oringer
You
World
Relationships
" I figured managing people was obvious - I'd tell someone what they needed to do and they'd do what I wanted. It turns out that's not the case. It was frustrating at first. "
Jon Oringer
Tell
Someone
People
" I needed to make the buyer happy: I needed to provide a price point and sort of a model that was attractive to them. But I also needed to make the contributor happy. "
Jon Oringer
Happy
Price
Attractive
" The decisions you make affect a lot of people. You have investors, employees, and customers who all rely on you. Being a leader is a 24-hour-a-day job. "
Jon Oringer
Who
People
Job
" Shutterstock has the tech ethos. Rex has the relationships, packaging, and merchandising know-how. "
Jon Oringer
Ethos
Tech
Relationships
" All businesses need images to sell their products and services. "
Jon Oringer
Services
Images
Sell
" Problems are good. Impossible problems are even better. "
Jon Oringer
Even
Better
Impossible
" To make a computer do something that would take a human a long period of time was always interesting. "
Jon Oringer
Human
Interesting
Always
" When I started Shutterstock, I tried to get people access to big events. It's very hard to keep up, to publish them quick, and to get the right photographers. "
Jon Oringer
Quick
Hard
Events
" It turned out it was really easy to create commercial stock footage. "
Jon Oringer
Easy
Commercial
Really
" The growing demand for content across our platform delivers bigger payouts to our contributor base and encourages them to upload fresh content to Shutterstock, further facilitating the network effect of our business. "
Jon Oringer
Content
Fresh
Business
" It's typical for video customers to often use licensed music - whether a soundtrack, background music, or sound effects - to complement their video projects. "
Jon Oringer
Customers
Music
Use
" Equally important to having the right content is providing the proper tools for the users so they can quickly find the images and videos they need. "
Jon Oringer
Find
Important
Tools
" Was I going to start companies outside of Shutterstock or inside? Going public kind of meant I was going to start them inside, and I kind of thought this through and decided that if I was going to do that, I was going to continue to operate Shutterstock like it was an incubator of startups. "
Jon Oringer
Inside
Thought
Kind
" At around 50 employees, you get to the point where you can't see what's going on all the time. So you start to have weekly check-ins, and you have days that go by without knowing exactly what's going on. "
Jon Oringer
You
Time
Go
" On average, an e-commerce client who evolves into a premier enterprise client increases their annual spend by 10 times in that first year. "
Jon Oringer
Year
Average
E-Commerce
" I hear so many startups talking about how they can raise VC instead of questioning whether they need it in the first place. "
Jon Oringer
Place
Talking
First
" The best ways of marketing were email and banner advertising, but I needed images... and they were very expensive. "
Jon Oringer
Advertising
Best
Email
" We sell to businesses who sell other stuff, so we're just going to concentrate on doing that. "
Jon Oringer
Sell
Other
Just
" I opened up Shutterstock to the whole world. I created a contributor community that anyone could give stock photography a shot. "
Jon Oringer
Up
Community
Shot
" If people want to code, and they want to be entrepreneurs, there's opportunities for them to do that. "
Jon Oringer
Them
Code
Opportunities
" Try to rally up as many people as you can with as much information as you can to try to get it to appear in front of the right people in the organization who are the decision-makers to greenlight the project. "
Jon Oringer
Organization
You
People
" We look for the scrappy entrepreneur: the kind of person who will get things done without looking to spend money right away. "
Jon Oringer
Looking
Entrepreneur
Done