Companies / Apollo Global plans to buy Shutterfly for $1.74 billion
Shutterfly, an online-only retailer of personalized products and photo books, reported a 12% increase in revenue for the third quarter ended Sept. 30, 2016, compared with the same quarter a year prior. Increases in Shutterfly brand mobile sales and its business-to-business Shutterfly Business Solutions unit led the growth. The company’s consumer segment revenue grew 4% to $144.1 million during the quarter, led by the Shutterfly brand, which continues to grow at a double-digit rate, president and CEO Chris North told analysts. Growth in the Shutterfly brand, he said, was driven by mobile and by personalized gifts but was offset by the weaker performance of other brands.
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Our Shutterfly Coverage
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