Shutterfly, Inc. (NASDAQ:SFLY), a leading Internet-based social expression and personal publishing service, announced today that it has acquired Penguin Digital, Inc. ( www.pengu.in), a mobile application developer that provides consumers with a fun and easy way to create, share and purchase photo merchandise directly from their mobile devices.
Penguin Digital launched an iPhone app in January 2012 called Mobile Photo Factory or MoPho for short ( www.mophoapp.com), which allows anyone to easily create physical prints and photo based merchandise such as iPhone & iPad cases, mugs, key chains, apparel, canvas prints and more. With MoPho, users can access photos from their iPhone or their Facebook or Instagram accounts and create one-of-a-kind products and gifts while on the go. In addition to the stand alone application, Penguin Digital has developed a Software Development Kit (“SDK”) that lets other app developers integrate printing of photos and the creation of photo based products into their own applications.
Smartphone use continues to grow, and according to eMarketer, by 2013, more than half of all mobile phone users in the US will own a smartphone. The acquisition of Penguin Digital further solidifies Shutterfly’s market leading position, enabling consumers to be more creative with their photos and to preserve their memories. The MoPho application will be rebranded and updated over the next few months and will add to Shutterfly’s mobile offerings, which include the popular Shutterfly iPhone and iPad apps and the soon to be released Treat birthday card app.
“The acquisition of Penguin Digital supports our mobile strategy aimed at giving consumers better ways to engage with their photos and personalize products on the go,” said Jeffrey Housenbold, president and CEO of Shutterfly. “We believe it’s important to give consumers the choice and convenience of transforming their memories into high quality products and gifts from their PC, tablet and mobile phone. Our recent strategic acquisitions of Nexo, TinyPrints, Photoccino and now Penguin Digital combined with our continued investment in organic growth and innovation further enables us to fulfill our vision of making the world a better place by helping people share life’s joy.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV