Shutterstock shares pop after $76.5 million IPO

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Associated Press

Posted on October 11, 2012 at 8:01 AM

Updated Thursday, Oct 11 at 8:02 AM

NEW YORK (AP) — Shares of Shutterstock are up 30 percent Thursday after the Internet provider of stock photos and videos raised $76.5 million in its initial public stock offering.

The New York company sold 4.5 million shares for $17 each, above the expected range of $13 to $15. That had suggested there was already strong demand for its stock.

Trading on the New York Stock Exchange under the "SSTK" ticker symbol, shares are up $5.12 to $22.14.

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