Acquisition adds depth to new commercial licensing business 500px Prime
TORONTO March 4, 2014 – 500px, a premier photography community for discovering, sharing, buying and selling inspiring photos, announced its acquisition of Authintic, an analytics technology company. The purchase brings additional data sciences and advertising industry expertise as 500px enters the photo licensing business.
Since last year, 500px has been developing its commercial licensing marketplace with the goal of making its growing collection of 37 million photos available for purchase. This acquisition will help convert the billions of consumer signals being collected each month into increasingly useful tools for advertisers.
“As we open up our community’s photos to creative agencies, advertisers and publishers, it’s important we treat our buyers and photographers with the highest level of transparency and respect — especially when it comes to using data for recommendations,” said Oleg Gutsol, CEO of 500px. “Authintic’s founders are leaders in privacy-based advertising technologies and recommendation engines. They also bring a wealth of experience as former advertising industry executives, entrepreneurs, and business leaders. It’s a perfect fit.”
Authintic, with offices in Toronto and New York City, focuses its technology on providing customer recommendations from permission-based social signals. “When we started Authintic, we saw an opportunity to help drive data-informed advertising. Photos play an increasingly important role in all forms of creative, and getting to the right photo quickly is key. We’re thrilled to join 500px as they transform commercial photography licensing.”
Cherwenka joins 500px as Managing Director, 500px Prime—the commercial licensing marketplace currently in beta. Authintic’s Chief Science Officer, Christopher Berry, joins as Data Scientist in Residence.
Both companies originally started out of Ryerson University’s Digital Media Zone, one of Canada’s largest incubators.
500px is a premier photo community for discovering, sharing, buying and selling the highest quality photography. Millions of people visit the 500px website and mobile apps monthly from around the world to find the most inspiring photography.
The company is headquartered in Toronto, Canada where it was founded in 2009 and has an office in San Francisco, USA. 500px has raised over $10 million in funding from Andreessen Horowitz, Harrison Metal, ff Ventures, and other investors.
Learn more about 500px at: http://500px.com/about
Authintic is an analytics technology provider helping marketers use opt-in personal data for better advertising. Founded by an advertising executive and a data scientist, Authintic is leading the industry shift toward privacy-based advertising technologies.
For more information, visit http://www.authintic.com