Chinese creative social network ZCool gets $15m from Shutterstock

ZCool Network Technology Ltd, China’s largest platform for designers and creatives, has received a $15-million investment from US stock photography, footage, music, and editing tools provider Shutterstock.

Shutterstock said, in a statement, that its investment in ZCool, which has been the exclusive distributor of Shutterstock’s creative content in China since 2014, further expands its presence in fast-growing markets.

“This investment forges a deeper partnership for us in China and provides the thriving and dedicated creative communities and global businesses across China access to Shutterstock tools and assets,” said Jon Oringer, Founder and CEO of Shutterstock.

Shutterstock has appointed a director to ZCool’s Board of Directors as part of its $15 million investment.

ZCool, which has nearly six million registered users, became the exclusive distributor of Shutterstock creative content in China in 2014. The partnership was extended in 2016 to include creative images and video collections for commercial use.

“China is a strong market for creative content use in print and digital across all industries… We recognise ZCool’s achievement in building a strong creative community and their long-term plan to cultivate a complete creative ecosystem,” Oringer said.

Shutterstock, headquartered in New York City, has more than 175 million images and more than 9 million video clips. It has offices around the world and customers in more than 150 countries.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.