Stock Photography Giant Shutterstock Lays Down $74 Million for TurboSquid

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Shutterstock just added another piece to its growing stock photography empire, this time acquiring 3D asset marketplace TurboSquid for a healthy $USD 74 million.

Photo by ThisIsEngineering from Pexels.

TurboSquid has the distinction of being the world’s largest marketplace for 3D assets and, because of this, that title will transfer over to Shutterstock as DP Review highlights.

The target here is to capture some of the revenue from the growing 3D modeling market, an increasingly common substitute for the actual products seen in promotional photos. In fact, many analysts think this will become the dominant mode of advertising products in the future as both the tools necessary to make use of these models become more common and the models themselves become increasingly more difficult to distinguish from their real-life counterparts.

CEO of Shutterstock Stan Pavlovsky said of the purchase of TurboSquid, “At Shutterstock, we are constantly at the forefront of innovation, monitoring the creative roadmap through our clients. The growth of 3D, AR and VR content and the potential to engage consumers with this disruptive technology is at an all-time high, and TurboSquid’s industry-leading platform allows us to make the distribution of 3D accessible to Shutterstock’s community of creators and marketers across video, gaming, e-commerce, and beyond.”

His counterpart at TurboSquid, Matt Wisdom, said the following according to Shutterstock’s press release: “Nobody in the world understands the creative landscape better than Shutterstock. The visionary leadership and tech innovation make it the perfect place for TurboSquid and its employees to continue what we do best — creating and building a 3D powerhouse and cloud-based digital asset management solution.”

What do you think of Shutterstock’s acquisition of TurboSquid? Have you used either service in the past? Let us know your thoughts in the comments section below.

Be sure to check out our other photography news articles on Light Stalking at this link right here.

[DP Review]

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Kehl is our staff photography news writer and has over a decade of experience in online media and publishing and you can get to know him better here

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