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ShutterStock: One person , a $800 initial investment to $2+ billion IPO

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Jon needed photographs for his websites and when he couldn’t find cheaper photographs, he sensed that others will have the same problem and started ShutterStock.

He started with less than $1000 and took it to $2+ billion IPO.  Let’s see how he did it.

What you could learn from this episode:

  • What sparked his interest in computers.
  • Why he left one gig to do the computer service gig.
  • What motivates him to start business
  • Why failure in multiple business did not deter him but propelled him further.
  • How he accidentally discovered about the market for images from his personal problems
  • What he did when he never knew anything about photography.
  • How he experimented with various pricing models to settle on the right pricing.
  • Why he did not take any outside funding and his reason to hit profitability as soon as possible.
  • How he views failure – This is very good.

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