Online provider for photo services on growth Hamburg, July 25, 2011 the European market for custom products is growing rapidly. Especially the demand for online-based offerings for individual photo products in the last few years many times over. With the purchase of Moonpig.com, the largest UK online supplier for personalized greeting cards PhotoBox responds to the market developments in the area of personal publishing and continues its expansion in Europe. In the past year alone, Moonpig.com sold over 12 million greeting cards to around three million customers. Moonpig.com reached a turnover of 38 million British pounds (42 million euros) in the last fiscal year. PhotoBox has printed prints more than a million in 2010 for its over 11 million members, as well as throughout Europe, more than one million photo books sold.
The turnover was 80 million euros in 2010. We combine the strengths of two companies well established in their respective core markets and further advance so our growth in Europe”, explains Stan Laurent, CEO PhotoBox. The demand for quality and excellent customer service unites both companies. With the resulting synergies we evolve as an enlarged group step by step to a global leader in the market of personal publishing”. In the course of the acquisition of Moonpig.com, PhotoBox has successfully completed a round of financing in the amount of 75 million British pounds ($83 million).
In addition to the already existing investors Highland Capital Partners, index ventures and HarbourVest are newly added: insight ventures, Quilvest ventures and green spring associates. Lawrence Handen, partner, insight ventures: There are great ways for PhotoBox and Moonpig.com and we are proud to be part of their common future. We share innovation and international growth. the vision of the management team for the future of personal publishing and their efforts” About PhotoBox PhotoBox (www.photobox.de) is the European market leader for Photo services on the Internet. With its more than 11 million members, PhotoBox stands for the hallmarks of innovation, quality and competitive prices in the market of online photo services. PhotoBox offers to the secure storage and sharing photos on the online platform, photo prints, as well as a wide range of original and innovative photo products, each user can personalize. PhotoBox is part of the Photoways Group and is based in Hamburg Germany.