![]() Gutsol was gone already, and co-founder Evgeny Tchebotarev had left in early 2016.Ĭurrent CEO Andy Yang will help with the transition and will remain in an advisory role, but is stepping away from day-to-day duties.ĭustin Plett, who has been with 500px for over five years, will lead the community side of 500px. Kelly Thompson will continue running the Marketplace and Stock sides of the business.Īs the shareholder of 500px, VCG will now play an important role in the decision-making process going forward. The founders of 500px are not making the leap to VCG along with their team. ![]() That service today has around half a million users, and is a key part of this deal.ĥ00px will remain in Toronto following the deal’s closure, and no one from VCG will join. The company scrambled then relaunched as a beta that required user consent. The localized service for China,, had first been met with backlash from its community of then 6 million, who didn’t like that their photos were appearing on the site by default with no opt out. The investment by VCG resulted in 500px’s increased focus in the Greater China market, and was soon followed by a launch in China later that year. VCG led $8 million of the startup’s $13 million Series B back in 2015, after a bit of a shakeup at the company the previous year, which saw 500px’s former CEO and co-founder Oleg Gutsol ousted after disagreeing with the board over the direction the company should take. 500px had raised over $22 million to date, according to Crunchbase. ![]() Other investors in 500px include Andreessen Horowitz, ff Venture Capital, and Harrison Metal. It sees 500px, which now has 13 million members, as another means of expanding its visual content licensing business, while also providing 500px with better distribution and access to its existing clients.ĭeal terms were not revealed, though one report is puts this deal at the fire sale price of $17 million. A publicly-traded image licensing company – and China’s Getty, so to speak – bought Corbis in 2016, and is now the world’s third-largest visual content provider. 500px, the photo-sharing site that once proposed to take on Flickr and Getty, has been acquired by Visual China Group (VCG), a strategic investor in 500px via previous financings.
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