Tips and Hacks from Super-Successful founders

FS 025: ShutterStock: One person , a $800 initial investment to $2+ billion IPO

Jon needed photographs for his websites and when he couldn’t find cheaper photographs, he sensed that others will have the same problem and started ShutterStock.

He started with less than $1000 and took it to $2+ billion IPO. Let’s see how he did it.

What you will learn from this episode:

  • What sparked his interest in computers.
  • Why he left one gig to do the computer service gig.
  • What motivates him to start business
  • Why failure in multiple business did not deter him but propelled him further.
  • How he accidentally discovered about the market for images from his personal problems
  • What he did when he never knew anything about photography.
  • How he experimented with various pricing models to settle on the right pricing.
  • Why he did not take any outside funding and his reason to hit profitability as soon as possible.
  • How he views failure – This is very good.

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