We’ve covered Toronto-based 500px before and their fast rise to become a key player in the online photo sharing space, late last year the company raised $8.8 million. We heard from an source last week, and now now officially their latest move as they have acquired Authintic Analytics Technologies, for an undisclosed sum. Like 500px, Authintic Analytics Technologies was incubated in Ryerson University’s Digital Media Zone. With the acquisition now complete, Authintic will bring its additional data sciences and advertising industry expertise as 500px enters the photo licensing business.
Since last year, 500px has been developing its commercial licensing marketplace with the goal of making its growing collection of 37 million photos available for purchase. This acquisition will help convert the billions of consumer signals being collected each month into increasingly useful tools for advertisers.
“As we open up our community’s photos to creative agencies, advertisers and publishers, it’s important we treat our buyers and photographers with the highest level of transparency and respect – especially when it comes to using data for recommendations,” said Oleg Gutsol, CEO of 500px. “Authintic’s founders are leaders in privacy-based advertising technologies and recommendation engines. They also bring a wealth of experience as former advertising industry executives, entrepreneurs, and business leaders. It’s a perfect fit.”
Authintic, with offices in Toronto and New York City, focuses its technology on providing customer recommendations from permission-based social signals. Authintic’s Co-Founder Andrew Cherwenka joins 500px as Managing Director, 500px Prime-the commercial licensing marketplace currently in beta. The company’s other Co-Founder Christopher Berry joins as Data Scientist in Residence.