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" Shutterstock has evolved from an image-based marketplace for small businesses to a much broader platform, with a large and expanding addressable market opportunity. "
Jon Oringer
Small
Large
Market
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" We sell to businesses who sell other stuff, so we're just going to concentrate on doing that. "
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" 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. "
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" By investing in diverse asset types from SD video to HD video to 4K video, we can satisfy the video needs of a wide array of users. "
Jon Oringer
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" As I started college, I started to build software products that I could sell to people over the Web. "
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Web
" It turned out it was really easy to create commercial stock footage. "
Jon Oringer
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Commercial
Really
" 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 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
" The best ways of marketing were email and banner advertising, but I needed images... and they were very expensive. "
Jon Oringer
Advertising
Best
Email
" 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
" Just as we are enhancing the customer side of our marketplace, we are also looking for ways to increase our contributor expense. "
Jon Oringer
Looking
Side
Our
" Instagram is great for us because it's encouraging people to shoot more stuff. Some of those snappers will become professional, and they may choose to sell their photos through us. "
Jon Oringer
Choose
Professional
Us
" I love meeting contributors and hearing how we inspire them to create art. I'm also proud of creating hundreds of jobs. "
Jon Oringer
Meeting
Proud
Inspire
" We significantly increased our global presence in 2014. During the year, we expanded the number of languages in which we serve customers to a total of 20. "
Jon Oringer
Year
Presence
Serve
" There is a lack of talent in technology, and we need to be encouraging kids in school to learn how to code. We need to encourage computer science as a major. We need to encourage entrepreneurism. "
Jon Oringer
School
Technology
Talent
" I shot images of everything I could find over the course of a year. I would go all over the world and take pictures. In a day, I could easily take thousands. "
Jon Oringer
Day
Over
Pictures
" While the scale of our library is certainly attractive to our users, equally important is the quality of the content we provide and our state-of-the-art processing operation that vets every single piece of content that's submitted to ensure only the most suitable content is included. "
Jon Oringer
Quality
Content
Important
" Problems are good. Impossible problems are even better. "
Jon Oringer
Even
Better
Impossible
" I found it very helpful not to do the venture round. Instead, I started with very little money, a few thousand dollars, and I did every job myself. I was the first photographer. I was the first customer service rep. I was the first online marketing person. "
Jon Oringer
Service
Customer
Money
" 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
" We recognized early on that media consumption was evolving and customers were looking for moving images to include as part of their advertising campaigns, website designs and corporate presentations. "
Jon Oringer
Advertising
Looking
Media
" 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
" Editorial imagery licensing includes celebrity, entertainment, sports, and news images that capture what is happening in the world around us. "
Jon Oringer
Capture
Celebrity
News
" All businesses need images to sell their products and services. "
Jon Oringer
Services
Images
Sell
" 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
" In 2013, we opened our first international office in London and established a European hub in Berlin. "
Jon Oringer
International
London
Office
" In the early days, start-ups make the main mistake of hiring people to do the work that they could do themselves. "
Jon Oringer
Make
Days
Work
" 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
" The problem with taking venture capital is if you take $5m from someone, it may feel great; you may feel like they're validating your business model. But they're giving $5m out to 20 different people, hoping one of them will be a hit. They don't really care if it's you. "
Jon Oringer
People
Business
Care
" To ensure we are meeting the demands of existing customers while also attracting new users, we remain focused on building cutting-edge technology and introducing new and innovative product offerings. "
Jon Oringer
Meeting
New
Technology