Redwood City, CA—Shutterfly, Inc., manufacturer and retailer of personalized products and services, acquired BorrowLenses, an online marketplace for photographic and video equipment rentals. BorrowLenses’ founders, Max Shevyakov and Mark Gurevich, will join Shutterfly.
“BorrowLenses addresses the growing consumer demand for high-quality products and services that are delivered on demand without high up-front costs,” said Jeffrey Housenbold, president and CEO of Shutterfly. “BorrowLenses is a perfect addition to the Shutterfly, Inc., family of lifestyle brands, as they are the premium provider in the photo equipment rental category and are passionate about helping their customers capture moments by providing them with best in class photography and video equipment.
“This acquisition gives Shutterfly a presence in the rapidly expanding sharing economy. We now have a greater ability to diversify our revenue streams, reduce fourth quarter seasonality and improve upsell and cross-sell opportunities among our family of brands,” added Housenbold.
With operations in San Carlos, California, and Boston, Massachusetts, BorrowLenses provides professional and amateur photographers and videographers with a choice of thousands of camera, lens and equipment options delivered through the mail or local pick up at more than 30 local and independent camera stores in 12 states. shutterflyinc.com