Photo service Shutterfly buys web site creator Nexo.com for under $15 million
Online photo service Shutterfly has purchased create-your-own-web-site company Nexo.com in a deal the two companies say was for under $15 million.
Redwood City, Calif.-based Shutterfly will use Palo Alto, Calif.-based Nexo as an easy way for its users to share their photos together on the site, such as for this sample family’s site.
Nexo launched almost a year ago, with angel backing (our coverage).
Meanwhile, Shutterfly, a publicly traded company, has been having a rough time — its stock traded sharply down last week, amid concerns about a larger recession, as well as about a sharp price cut by competitor Snapfish.
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About the Author, Eric Eldon
Eric currently covers digital media technology and business news, especially what's happening on social networks and their platforms. He also writes and edits stories about venture capital, and lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a startup called Writewith, that was building editorial software for newspapers and other groups of writers. The startup didn't work out, but he learned a lot.