Fotolia Gets $150 Million Investment from KKR
Fotolia, promoted as the top stock photography website within Europe, secured a 150-million dollar growth equity investment from Kohlberg Kravis Roberts and Co., as well as a $150 million senior financing through a collaboration between KKR, TA Associates, KKR Capital Markets and several banking institutions. Head of European Media Investments for KKR Philipp Freise is pleased with the partnership with the Fotolia team, which have built the company from the ground up to become one of the world’s most renowned microstock platforms, especially in Europe. KKR is known to look into the qualities of “innovation and leadership” in companies prior to making investments in digital media, and Fotolia’s immense growth since 2005 is a solid testament to their innovative, leading solutions.
Growth for Fotolia
Positioned to be a leading European-based microstock platform, Fotolia was established in 2005, primarily as an online venue for photographers to promote and sell their photos. Digital images and videos numbering more than 17 million are available to the users of Fotolia. Thousands of images and videos are uploaded to the site daily, allowing photographers to earn commissions through licenses. Providing intellectual property rights protection and earnings for photographers while offering affordable yet superior quality images to buyers, Fotolia is an online marketplace designed to work for everyone.
Fotolia CEO Oleg Tscheltzoff believes the partnership will fuel further growth for the company in the years ahead. As the largest investor in Fotolia, KKR is expected to help the company attain “global leadership in the stock photography industry”. One of the most renowned private equity companies, KKR and its investment is seen to provide the microstock platform with a bigger network and better operational tools to guarantee market growth.
One of the earliest investors in Fotolia is TA Associates, which made its first growth investment in the company in 2009. Speaking about the latest KKR investment, TA Associates Managing Director Jonathan Meeks says: “We have enjoyed being associated with Fotolia over the past three years and partnering with Oleg and his team to foster the company’s continued growth. We welcome KKR as a new investor and look forward to working closely with them and management further build value in Fotolia.”