Shutterstock, a global commercial digital imagery company, priced an offering of 4.6 million shares of common stock at $60 per share. The company offered 1 million shares, and founder and CEO Jon Oringer (54.6% pre-offering stake) sold 2 million shares. Insight Venture Partners sold 1 million shares and pared its stake down to 14.2% post-offering.
Shutterstock, which went public in October 2012, intends to use the proceeds primarily for general corporate purposes, including working capital and capital expenditures. Willkie Farr & Gallagher represented the underwriters in this offering, as well as in the 2012 IPO.