Florida based stockphoto agency Depositphotos has received a $3 million investment
Depositphotos, the fastest growing stock photo agency in the world, announced a significant investment contract with TMT Investments.
Based in Florida (USA), Depositphotos was founded in 2009, and soon established itself as a popular, cost-effective alternative for the acquisition of high-quality stock photo images. It proved itself as a first stock photo agency to offer bonus payments without hidden withdrawal conditions for every single image photographers uploaded for sale.
Depositphotos’ image library grows by thousands of photos daily, and its ongoing programming effort strives to ensure site security and robust performance and improve its user interface to respond to users’ needs and desires. The state-of-the-art search engine helps buyers find high-quality images quickly and easily, and flexible pricing policies offer buyers several strategies to minimize cost and maximize quality. High commissions, coupled with special terms and the growing popularity of the service, provide image authors with an unlimited potential for earning.
Continued improvements of Depositphotos’ service together with a successful marketing strategy contributed to the most significant growth in the microstock industry. During the last year the company website traffic increased tenfold and reached 1.8 million visitors per month. The number of images offered by the company exceeded 4 million.
TMT Investments PLC has committed to an investment of up to 3 million dollars (US) in the next year. The amount of investment was fixed in the contract of intents concluded during the preliminary negotiations between the companies in 2010.
“When negotiations began, Depositphotos was just a speculative project. Now, it is a resource on equal footing with its competitors. Investment capital will be directed at incorporating new features, improving the quality and functionality of the service, and increasing the company’s market share.
We’re engaged in a serious business and intend to perform serious work,”
says Igor Kalyuzhny, Head of Depositphotos’ departments in Eastern and Western Europe.
“This investment provides TMT with exposure to a fast-growing photobank industry, and TMT believes that DepositPhotos is well placed to become one of the leading photobanks in its segment,” according to the TMT press release.
TMT Investments is a public company incorporated in, and controlled from Jersey. The company is run by well-known and influential representatives of the media and the banking business in Russia. German Kaplun and Alexander Morgulchik, the founders of RBC, a leading media company in Russia and CIS, serve as valued consultants. It specializes in fast-growing telecommunication and high-tech companies. Its first investment was in the U.S. company Ninua, the developer of NetworkedBlogs, a top application for Facebook.