Shutterfly Acquires Online Stationery Company Tiny Prints For $333 Million In Cash And Stock
Shutterfly has acquired Tiny Prints, a company that online publishing company that sells cards, invitations, personalized stationery and photo books. The deal includes $141 million in cash, and approximately 3.9 million shares of Shutterfly common stock. In addition, Shutterfly will reserve approximately 1.4 million shares (valued currently at $60 million) of common stock as consideration for the vested and unvested Tiny Prints employee equity awards assumed by Shutterfly. The entire Tiny Prints team will join Shuterfly.
Founded in 2004, Tiny Prints raised funding from Technology Crossover Ventures and Summit Partners in 2008 and has been profitable since its launch. Through TinyPrints.com and WeddingPaperDivas.com, Tiny Prints offers stylish stationary, greeting cards and more online. Users can pick from a vast variety of styles and customize printed invitations and cards with images, text, and colors.
Personally, I’m a huge fan of the service and have used both TinyPrints and WeddingPaperDivas for holiday cards, thank you notes wedding invitations and more. The company could be a fit within Shutterfly to combine photo sharing and printing with the stationery and printing business.
Shutterfly says that the transaction will close in approximately 30 to 60 days and following the deal, Tiny Prints stockholders will own approximately 12% of the pro forma combined company.
Shutterfly most recently purchased Tiny Pictures in 2009.
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