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Snapfish

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Snapfish, LLC
Company typeSubsidiary
IndustryPhotography products, Printing
Founded1999; 25 years ago (1999)
HeadquartersSan Francisco, California
ProductsPhoto sharing, Photo products
ParentShutterfly
Websitewww.snapfish.com

Snapfish, LLC[1] is a web-based photo sharing and photo printing service owned by Shutterfly based in San Francisco, California.

History

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Snapfish was launched in 1999 by business partners Rajil Kapoor, Bala Parthasarathy,[2] Suneet Wadhwa, and Shripati Acharya.[citation needed] Ben Nelson joined soon thereafter as corporate development operations lead, to become CFO and later president and CEO. Jasbir Patel was named president and CEO in January 2017.[3]

On October 30, 2001, the service was acquired by District Photo for an undisclosed amount.[4]

In 2004, Snapfish opened a physical retail concept store in Alexandria, Virginia, but later closed it.[5]

The next year, Snapfish was bought by Hewlett-Packard[6] for $300 million while Nelson was CEO,[7] even though the service's revenue at the time was less than $100 million.

Nelson continued to run the company as an HP subsidiary. During this time, Snapfish partnered with Walgreens, Costco, and Walmart.[8]

In August 2013, Snapfish announced on their local websites (and through a mailing to members) that they were shutting down the service in Belgium, India, the Netherlands and Spain.[9]

In April 2015, HP reached an agreement to sell Snapfish back to District Photo. Under the terms of the sale, HP allowed the company to continue to use its printing services.[10]

During a website conversion in 2016, the service experienced a data loss. Photos prior to January 2014 were unable to be migrated to the new website system. Snapfish said that although some photo albums were recovered, others would remain empty. Typically Snapfish has three versions of images: high resolution, low resolution, and printable images. Both the high and low resolution images were lost and the backup files for the printable images were not recoverable.[11]

On September 28, 2018, it was announced that Snapfish would acquire CafePress for more than $25 million.[12][13] The acquisition was completed on November 9, 2018.[14]

On June 10, 2019, Apollo Global Management announced that it would acquire both Snapfish and its rival Shutterfly in separate deals valued at around $3 billion in total. The two companies would be merged into a single entity, with Snapfish parent company District Photo as a minority stakeholder.[15] The merger of Shutterfly and Snapfish was completed on January 8, 2020.[16]

On May 4, 2020, it was announced that Snapfish will no longer be providing the platform for Boots Photo in the UK and Ireland from May 13, 2020.[17]

On September 1, 2020, it was announced that PlanetArt had acquired CafePress from Snapfish/Shutterfly.[18]

See also

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References

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  1. ^ "SC TO-T/A (Amendment No. 3)". www.sec.gov. Retrieved August 6, 2024.
  2. ^ "Bala Parthasarathy, Co-Founder of Snapfish, Joins Canvera's Board". February 16, 2012. Archived from the original on October 28, 2012.
  3. ^ Boyle, Amy (May 23, 2017). "From technology company to retailer: The making of Snapfish". Essential Retail. Retrieved August 26, 2020.
  4. ^ "District Photo snaps up Snapfish". Washington Business Journal. October 30, 2001.
  5. ^ "Snapfish Opens Premier Concept Store Brings Online Photo Services to Retail". HP.
  6. ^ "HP To Acquire Leading Online Photo Service Snapfish". PALO ALTO, Calif.: HP. March 21, 2005. Archived from the original on February 18, 2013.
  7. ^ Gould, Jay (December 8, 2011). "Early Role Models Inspired Raj Kapoor to Co-Found Snapfish Before Selling it for $300 Million". Archived from the original on January 4, 2013. We ended up getting a $300 million offer for cash and a long-term relationship with District Photo.
  8. ^ Ewalt, David M. "Snapfish, Walgreen In Digital Picture Deal". Forbes. Retrieved March 16, 2022.
  9. ^ "Exclusive: HP Shuts Photosharing & Printing Service Snapfish in India & 3 Other Countries". August 2, 2013.
  10. ^ Robinson, Tony (April 21, 2015). "Hewlett-Packard to Sell Snapfish Operation to District Photo". Bloomberg Business. Retrieved August 31, 2015.
  11. ^ Knowles, Jason (December 19, 2016). "Back up your photos with more than just an online storage site". ABC News Chicago. Retrieved October 5, 2017.
  12. ^ "Snapfish to Expand Product Offerings with CafePress Acquisition". GlobeNewswire News Room. September 28, 2018.
  13. ^ Menapace, Brendan. "CafePress Acquired by Snapfish in $25 Million Deal". Promo Marketing.
  14. ^ "Snapfish, LLC Successfully Completes Cash Tender Offer for Shares of CafePress Inc". GlobeNewswire News Room. November 9, 2018.
  15. ^ Newburger, Emma (June 10, 2019). "Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion". CNBC. Retrieved June 27, 2019.
  16. ^ "Affiliates of Certain Funds Managed By Affiliates Of Apollo Global Management, Inc. Announce The Closing Of The Previously Announced Transaction With Snapfish And Shutterfly". GlobeNewswire News Room. January 8, 2020. Retrieved January 10, 2020.
  17. ^ "Boots Help". bootsphoto.zendesk.com. Archived from the original on August 5, 2020.
  18. ^ "PlanetArt Acquires CafePress from Shutterfly". Businesswire. September 1, 2020. Retrieved October 13, 2020.
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