VistaPrint acquires Ukrainian Depositphotos for $85 million

Ukrainian creative content provider Depositphotos announced today its acquisition by VistaPrint, a global leader in custom-printed products for SMEs. This is a full acquisition, paid in cash at a value of $85 million, the Depositphotos press service told Ukraine Digital News.

VistaPrint is buying the Depositphotos group with its various entities, including Depositphotos, Lightfield, Bird In Flight and WAS, as well as Crello, which is being rebranded to VistaCreate.

Depositphotos’ main business is a marketplace that allows users to buy and sell high-quality stock photos, vector images and videos. It will still operate as a separate brand, with its new owner providing “accelerated investments in tech, team and marketing activities.”

Developed by the Depositphotos team as a separate project, Crello “makes it easy for customers to bring their marketing vision to life, no matter their design experience.” This platform quickly became a “global leader in DIY digital design,” says the Depositphotos press service. 

“We’re happy to join forces with such a strong international [player]. For our Ukraine-based team it’s a unique opportunity to get access to the resources, knowledge and culture of an international corporation, while remaining to work in our favorite startup mode,” stated Depositphotos and VistaCreate VP Vadim Nekhai. 

“We’re joining the company with incredible corporate culture, named as one of the best remote-first workplaces, one of the best Places to Work for LGBTQ Equality, with Robert Keane named the Best CEO for Women,” he added.

Founded in 2009 in a basement office in Kyiv (Kiev), Depositphotos is an example of global Ukrainian startup success story. It now offers a collection of 220 million files — from stock photographs, to videos, vector images, illustrations and music.  

Currently, the company has its headquarters in the USA (in Cyprus for Crello). Its main office is in Kyiv, hosting 90% of the team, with other offices in New York, Limassol and a sales team distributed across the globe. 

Topics: Finance, International, M&A, News, Startups
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