“Singular focus matters. If you look across the Internet, the companies that won in each vertical were singularly focused ones. They did not always stay independent, but they were the winners. In payments it was PayPal, in jobs it was Monster, in auctions it was eBay. Companies that are not entrenched in old business models tend to win in the Internet. It’s Amazon, not Wal-Mart; Netflix, not Blockbuster. We’re the Netflix of our industry. We’ve got many large offline competitors, but we have a very different business model, focused on the customer, not selling printers or ink or frames. We have built this company to be large and standalone, but also, from the perspective of business partnerships or equity or acquisitions, we always have to remain open. If we can achieve it as part of a larger company, we’re open to that.” —Jeffrey Housenbold, CEO of Shutterfly, which today announced that it has completed its acquisition of Tiny Prints in a deal valued at $333 million.
Publish date: April 25, 2011 https://dev.adweek.com/digital/quote-of-note-shutterfly-ceo-jeffrey-housenbold/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT