A View on View :: Shutterfly Files for IPO

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Shutterfly Files for IPO

by Mark Evans on Fri 08 Sep 2006 09:13 AM EDT | Permanent Link

Amid the flurry of photo and video-sharing start-ups, it is interesting to see Shutterfly file for a $73-million IPO. Remember Shutterfly - the online photo service company that popped up during the dot-com boom along with rivals such as Ofoto and Snapfish? Shutterfly's high-profile investors include Jim Clark (remember him?) and Tom Jermoluk. According to the company's S-1 filing with SEC, Shutterly had operating income of $4.4-million on revenue of $83.9-million last year. This compares with operating income of $3.9-million on revenue of $54.4-million in 2004. So, unlike all those Web 2.0 photo "newbies", Shutterfly is a real company with real revenue and profits. I wonder whether investors will snap up the IPO shares, which will be sold at $13 to $15.

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Re: Shutterfly Files for IPO

by Randy Charles Morin on Fri 08 Sep 2006 04:08 PM EDT | Permanent Link

It's nice to see real companies with real revenues emerging from the recent Web 2.0 communist manifesto.

Re: Shutterfly Files for IPO

by Mr Wave Theory on Mon 18 Sep 2006 03:17 AM EDT | Permanent Link

There is severe downward pricing pressure in online photo printing. Ofoto dropped prices from 29 cents to 12 cents and forced ShutterFly to lower pricess as well. Additionally, this company is barely profitable and will have an imputed P/E of 69-80 times trailing where a quarter of revenues come from shipping.

Will the ShutterFly IPO Fly?

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