ZCool Network Technology Limited, a Chinese creative social network and artist platform, received a $15m investment from New York City-based Shutterstock (NYSE: SSTK).
With the investment, Shutterstock, a global technology company offering a creative platform for assets, tools and services, will further expand its presence in the Chinese markets. In connection with its investment, the company has also appointed a director to ZCool’s Board of Directors.
with nearly six million registered users, ZCool has been the exclusive distributor of Shutterstock’s creative content in China since 2014. This partnership was extended in 2016, and includes creative images, and video collections for commercial use as well as providing Shutterstock enterprise plans to Chinese customers. The content is distributed through ZCool’s e-commerce page, HelloRF.com and Shutterstock’s Enterprise content is accessed through their Plus.HelloRF.com site. In addition, through utilization of ZCool’s API, Shutterstock’s content now powers large technology platforms in China such as Tencent Social Ads and WPS Office.