The Canadian firm will keep its staff and continue to operate separately, CEO Mikael Cho wrote in a blog post. Neither side disclosed terms of the deal. (The Logic)
Talking point: Photographers upload images to Unsplash, which individuals or organizations download and use for free, without attribution. Formally spun out of Montreal-based co-working space Crew in early 2017, Unsplash has raised US$21.8 million, according to PitchBook data, including from Real Ventures and BDC Capital. After considering a digital token, it pursued more conventional forms of revenue. In December 2019, Unsplash launched an ad feature for brands, allowing companies to upload photos and pay to feature them when users search for generic terms (Timberlands would appear with “boots,” for example). This January, it set up a system for agencies and advertisers to commission photographers. It plans to grow both. Image platforms are a challenging business—Toronto-based 500px reportedly sold to Visual China Group in February 2018 for less than it raised in VC funding.