Toronto's 500px has its eyes set on international expansion. Growth in Europe will be a major focus for the Canadian startup in 2013, evidence of which is the company's acquisition of Pulpfingers this week.
Pulpfingers is a startup based in Strasbourg, France. The company makes photo-centric apps for iOS.
According to sources cited in TechCrunch, the deal was largely an acqui-hire, meaning the startup was purchased for the talent behind it, not the assets owned by it. TC says it was "an all'stock transaction in the low seven figures range."
“It’s been our intention to increase our presence in Europe and we’ve been looking for the right opportunity," 500px CEO Oleg Gutsol is quoted as saying. "We have huge numbers of photographers in Germany, France and Spain, so a central presence in France makes a lot of sense.”
Earlier this year, 500px acquired recommendation engine startup Algo Anywhere for $2 million.