Reuters: Regulatory News: UPDATE 1-Shutterstock files for IPO of up to $115 million

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UPDATE 1-Shutterstock files for IPO of up to $115 million May 14th 2012, 13:33 Mon May 14, 2012 9:33am EDT May 14 (Reuters) - Shutterstock, an online stock photography provider, filed with U.S. regulators on Monday to raise up to $115 million in an initial public offering of common stock. Sources told Reuters Earlier this month that the company, which competes with stock photo leader Getty Images, is close to filing for an IPO. Shutterstock owns a library of photographs and illustrations that customers can license and download through subscription deals. The company is backed by entities affiliated with Insight Venture Partners and Pixel Holdings Inc. For the year ended 2011, the company earned 21.8 million on a revenue of $120.2 million. The New York-based company told the U.S Securities and Exchange Commission in a preliminary prospectus that Morgan Stanley, Deutsche Bank Securities and Jefferies were underwriting the IPO. The filing did not reveal how many shares the company planned to sell or their expected price. The company intends to list its common stock on the New York Stock Exchange under the symbol "SSTK". The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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