Art.com, an online retailer of – you guessed it – art, with more than 12 million customers worldwide, recently announced that it bought Zenfolio, a company that provides professional and amateur photographers with a platform to upload, display, share and sell their photos and services.
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The financial terms of the acquisition were not disclosed, but a regulatory filing from this morning reveals that Art.com paid $6.2 million in stock for the Silicon Valley company. For the record: that’s the minimum purchase price as we don’t know if, and how much, cash was included in the deal.
According to CrunchBase, Zenfolio had raised funding from angel investors back in 2005, but it’s unclear how much and who from.
Art.com CEO Geoffroy Martin said in a statement:
“Bringing Zenfolio into the Art.com family was very natural because of the synergy between the two companies in the wall decor space.
Zenfolio provides a solution for photographers looking to sell their work online, and will allow us to capture an even larger portion of our customers’ ‘wall share.'”
Alex Peyzner, founder and CEO of Zenfolio, had this to add:
“We are passionate about photography and believe that beautiful photographs should have an equally impressive viewing experience. We believe joining forces with Art.com can further enhance customer experience and advance product development.”
Art.com and Zenfolio will continue to operate as stand-alone sites.
Top image credit: Thinkstock