By Amos Struck
New York based stock media marketplace, Pond5, announced yesterday that it has raised $61 million in equity financing from Accel Partners and Stripes Group. The funding is the first institutional investment for the company and will be used for the company’s global growth, hiring and product development.
Pond5 is a company that runs an online marketplace for stock video footage, photos, audio and other snippets needed to create media projects. Pond5 pays out 50% of sales to artists who upload their media to the website, a competitor to Shutterstock who pays 20-30%.