Pond5 Acquires Pixmac and Expands International Presence
Pond5 Inc. and Pixmac s.r.o. have reached a definitive agreement under which Pond5 will acquire the assets of Pixmac, a leading stock imagery network based in the Czech Republic.
Pond5 is the world’s most vibrant marketplace for media makers, offering the web’s largest collection of royalty-free video footage, as well as millions of stock photos, illustrations, music tracks, sound effects, Adobe After Effects project templates, and 3D models. Disrupting the traditional stock agency model with an open, dynamic marketplace, Pond5 invites media makers from all over the world to submit their own content and set their own prices, earning 50% on each sale – significantly higher than traditional players.
With millions of stock photos and illustrations distributed in 17 languages and in multiple currencies, the acquisition of Pixmac accelerates Pond5’s strategy to offer a global marketplace where media makers can connect with fellow artists, sell their stock media while earning industry-leading payouts, and license content from the world’s most comprehensive selection of creative elements for use in their own productions.
Pixmac is a global provider of stock imagery, offering millions of stock photographs and illustrations in 17 languages and multiple currencies. Based in the Czech Republic, the site was launched in 2008 and is currently home to an artist community of over 6,000 photographers and illustrators worldwide. Integration will bring over 150,000 new users, millions of images and 17 languages to Pond5’s Marketplace for Media Makers. Pixmac artists will get a substantial raise to match their Pond5 counterparts, and will earn 50% royalties on all sales.
Solomon Packer and Jeanne Goulet, Senior Tax Practice Consultants at Marks Paneth & Shron LLP (MP&S) led the team in this transaction. Pond5 wanted a firm who could put together a global team to assist them in setting up a foundation for their growing international business. The challenges involved creating and coordinating a worldwide team to bring the necessary expertise to bear on the tax and accounting matters at hand. Working with international attorneys and other member firms of our global Morison International network, Solomon and Jeanne selected a global team that fully achieved Pond5’s goals. In addition, Solomon and Jeanne designed a structure that benefitted all stakeholders and resulted in a more competitive business model than the model that had previously existed.
Marks Paneth & Shron LLP (MP&S) is a leading professional services firm in the United States. We offer a wide range of accounting, auditing, tax, consulting, restructuring, bankruptcy and advisory services as well as litigation and corporate financial advisory services to domestic and international clients. MP&S also has a strong track record supporting emerging growth companies, entrepreneurs, business owners and investors as they navigate the business life cycle.
The firm, whose origins date back to 1907, has a long history of providing attentive and responsive client service. Our services are provided by industry-focused, experienced practitioners. The most important element of our culture is our unrelenting client focus. We recognise that our success depends entirely on how well we serve our clients, and nothing takes precedence over our commitment to meet each client’s continuing need for effective, insightful, responsive and professional service.
For more information please visit http://www.markspaneth.com/our-firm-and-services