Shutterstock founder Jon Oringer on 'opportunistic' M&A strategy

Shutterstock shares hit a one-year low Monday and have lost half their value year to date. Despite the headwinds, the company has continued to invest in the business.

• Founder and CEO Jon Oringer says Shutterstock has an opportunistic M&A strategy, and looking at the last few months, it isn't empty talk.
• Last month, Shutterstock bought two companies to expand its content marketplace of photos, video, audio and 3D formats.

Details: "If you continue to focus on your business and make the right moves and be opportunistic through M&A — ignore the market as much as possible ... you come out of these things stronger than you entered them," Oringer says.

• Shutterstock's most recent acquisition was Splash News, a popular source of photos and videos from news, sports and celebrity events. Just prior, it acquired Pond5, a marketplace of stock videos and licensable music.
• Last year, Shutterstock bought photo editing and design software PicMonkey and 3D asset marketplace TurboSquid.

Of note: Oringer pointed out that the company has very little debt.

• Acquisitions have grown Shutterstock's content library, expanded its customer base and helped it support new assets like 3D images and audio.
• "The worst thing you can do with acquisition is take everything they're good at it and mash it with your current business in a way where you dissolve that out," Oringer says. "We buy companies with teams that have functionality and capabilities that we want to have live on in our organization."

What's next: On July 1, board member Paul Hennessy becomes CEO. He succeeds Oringer, who was serving in an interim capacity and will resume his role as executive chairman.