Online Photo Service Shutterfly Files to Raise $92 Million in IPO

Authored by Mark Hefflinger on June 29, 2006 - 1:10pm.

Redwood City, Calif. - Shutterfly, an online photo service, on Thursday filed with the Securities and Exchange Commission to raise up to $92 million in an initial public offering (IPO). The six-year-old company, which lets users upload, edit and share digital photos, hasn't yet revealed details such as the number of shares of their expected price range. Redwood City, Calif.-based Shutterfly has applied to list its stock on the Nasdaq under the symbol "SFLY." Since launching its service in late 1999, the company has fulfilled more than 11 million orders, sold approximately 350 million prints and stored more than 900 million customer photos in its image archives. In May, Shutterfly.com had approximately 4.1 million unique visitors.

http://ir.shutterfly.com/releasedetail.cfm?ReleaseID=202368