Their businesses are complementary, Harding said, with Lifetouch capturing the photos and Shutterfly helping the recipients preserve them in prints, photo albums, and gifts like calendars, coffee mugs, and plaques. Lifetouch takes photos of "They want to do more with those pictures than send home a packet to mom and dad, which is what Shutterfly does," Harding told Business Insider.
She added that Lifetouch delivers an influx of new customers who are "increasingly expensive to go out and get." It brings an average of 1 million kindergarteners into the fold annually."If we put these two businesses side-by-side physically, we believe there's a lot more opportunity to learn from each other and think holistically about the customer experience," Harding said.
The company will continue to base corporate leadership, engineering, and support staff at the California headquarters. According to Harding, Shutterfly has about 8,000 "primarily full time" employees. Shutterfly's business is largely seasonal, with orders for custom cards surging before the winter holidays.
Shutterfly started trading on the public markets in 2006, and returned to private ownership last year with Apollo Global Management Photo. In its last financial report as a public company in June 2019, Shutterfly reported a net loss of $96 million over the previous six months, with revenue of $800 million., Hilary Schneider, who left the top job at dog-walking service Was after about a year.
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