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.