Americans bought “Depositphotos”

by Meifan Honcharuk
Monday, November 1, 2021
Americans bought “Depositphotos”

American company bought Ukrainian "Depositphotos" for $85 million

The American company VistaPrint bought the Ukrainian well-known photobank company Depositphotos and the online editor Crello. The agreement for $85 million has become the largest over the past few years in the domestic IT market. VistaPrint buys 100% of the company, in particular, the projects of Depositphotos, Crello, Lightfield, as well as the publications Bird In Flight and WAS. The founder of the Ukrainian company Dmitri Sergiiv completely withdraws from the project. It is known that in the future company will be developed as a separate brand, and Crello will become VistaCreate. Vadim Nekhai, who served as CEO, will remain with the company and will join Vista as vice president of VistaCreate (Crello) and Depositphotos. He will continue to lead the teams under vista's president of international business Florian Baumgartner. After the deal, the company plans to expand its headquarters in Ukraine.

Due diligence negotiations and the conclusion of the deal took several months, almost everything took place remotely. During all this time, there was only one personal meeting when VistaPrint representatives from Europe and the United States flew to Kyiv.

VistaPrint is a major US design and marketing company, part of Cimpress, and trades on the Nasdaq. Its divisions deal with content for Facebook, Instagram, TikTok and other social networks, develop logos, websites and other branded materials, print all promotions: from stickers and packaging to signs.

Depositphotos is an international photo bank, a commercial platform for authors and buyers of stock photos, vectors and videos. He works with clients from 192 countries with offices in Kyiv, New York, London, Berlin, Milan, Moscow and Warsaw. The company was founded in 2009 by entrepreneur Dmitri Sergiiv.

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