Lightning Partners Advises Storyblocks on Their Acquisition By Great Hill Partners
Transaction Positions Storyblocks to Expand Access to Digital Content and Collaboration Tools
ARLINGTON, VA & BOSTON, MA, June 29, 2020 — Lightning Partners, a growth technology investment bank, served as the exclusive financial advisor to Storyblocks, the first and largest subscription-based stock media company, in its acquisition by Great Hill Partners, a leading private equity firm.
”This highly competitive process shows that there is still strong demand for growing, innovative, recurring revenue businesses with experienced leadership teams,” said Dan Williams, Managing Partner, Lightning Partners. “This industry shaping transaction is another example of how Lightning Partners delivers best in class outcomes for tech companies and their investors.”
“The Lightning Partners team was outstanding,” said TJ Leonard, CEO, Storyblocks. “They did an amazing job preparing us, guiding us and supporting us throughout the entire transaction process. The team did an extraordinary job digging deeply into our business to make sure we were well positioned for success. They created many attractive options for us to consider for our next stage of growth, and we couldn’t be happier with the results they delivered.”
“Lightning Partners absolutely nailed the execution on this transaction,” said Carter Griffin, General Partner, Updata Partners. “Their attention to detail and coaching of the team was evident throughout. We thank them for their hard work in delivering a great outcome.”
This transaction highlights continued interest in the ongoing convergence of content, collaboration and workflow tools that is impacting almost every industry. In addition, it demonstrates that despite the global pandemic M&A transactions can be successfully managed in a virtual manner.
Storyblocks was founded in 2009 by Joel Holland. Investors included Updata Partners, North Atlantic Capital and QED Investors. Storyblocks has been recognized on the Inc. 5000 list seven consecutive years.
Cooley LLP provided legal advice to Storyblocks on the transaction.
Terms of the transaction were not disclosed.
About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.
Built on the belief that all stories deserve a chance to be told, Storyblocks provides video, audio and images through its unique subscription model. By offering unlimited downloads and continually adding fresh content, Storyblocks challenges the paradigm that your ambitious creative vision requires deep pockets. The company was recently named as one of Washington D.C.’s Top Workplaces by The Washington Post, and among the Best Places to Work by the Washington Business Journal. Headquartered in Arlington, Virginia, For more information, visit www.storyblocks.com.
About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the consumer, digital infrastructure, financial technology, healthcare, and software sectors. Over the past two decades, Great Hill has raised nearly $8 billion of commitments and invested in more than 75 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. For more information, visit www.greathillpartners.com.