Photo sharing platform 500px made a strategic acquisition this week as they picked up their biggest competitor in Europe called Pulpfingers for an undisclosed sum of all stock this week. Part of the logic in snapping up this particular company is a “acqi-hiring” as they more looked towards the talent of Pulpfingers who are said to already be familiar with design and community aspects of 500px.
“It’s a strategic move,” says Oleg Gutsol, CEO 500px. “We’re all about creativity. And when you have the right chemistry with talented people in a market you want to expand into, you get creative to make sure the deal happens. I’m very pleased we arrived at an arrangement that makes good business sense for all of us.”
Pulpfingers Co-Founders David Charlec and Jerome Scheer will continue to operate Pulpfingers over the next few months as they transition into full-time roles inside 500px. Details of the plan are being developed and the Pulpfingers team will be spending time in the Toronto at the 500px head quarters next year to get fully immersed in the company and its culture.
500px also acquired Algo Anywhere in July 2012, and they have grown quickly having only left their startup incubator around this time back in 2011.
