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WIKI ANALYSIS
Shutterfly, Inc. (NASDAQ: SFLY) is a leading Internet-based social expression and personal publishing service that enables consumers to share, print and preserve their memories by leveraging the company's technology-based platform and manufacturing processes. The company offers services for users to store, edit, and organize their digital photos. The company was founded in 1999, and since its inception, it has fulfilled more than 14.7 million orders, sold approximately 450 million prints and stored between 1-2 billion photos in its archives. According to industry sources, in 2006, Shuttefly had approximately 29 million unique visitors.[1]
Key Financials
- 2006 Revenues: $123 million
- 2005 Revenues: $84 million
Competitive Environment
The market for digital photography is large, fragmented, evolving, and intensely competitive, and the company expects competition to increase in the future. The company faces challenges from a variety of companies including:
- Online digital photography services companies such as Kodak EasyShare Gallery (formerly Ofoto), Snapfish, and others.
- "Big Box" retailers such as Wal-Mart Stores (WMT), Costco Wholesale (COST) and others that offer in-store fulfillment and self-service kiosks for printing
- Drug stores such as Walgreen Company (WAG) and CVS (CVS) that offer in-store pick-up from Internet orders.
- Regional photography companies such as Ritz Camera that have established brands and customer bases in some communities.
- Internet portals and search engines such as Yahoo! (YHOO), AOL, Google (GOOG), and CNET Networks (CNET) that offer broad-reaching digital photography and related products and services to their large user bases.
- Home printing service providers such as Hewlett-Packard Company (HPQ), Epson and Canon (CAJ), that are seeking to expand their printer and ink businesses by gaining market share in the emerging digital photography market; and
- Photo-related software companies such as Adobe Systems (ADBE), Apple (AAPL), Microsoft (MSFT), Corel (CREL) and others.
Growth Plans
- Expand customer base
- Expand product and service offerings
- Increase sales to existing customers
- Leverage vertical integration
- Develop new lines of business
- International expansion
References
1. 2006 Annual Report, p. 2
2. 2006 Annual Report, p. 11
3. 2006 Annual Report, p. 6-7
References
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