June 25, 2020
London Sloane St, New York
Digital Media and Media
GCA advises Great Hill Partners on its acquisition of Storyblocks
GCA has acted as exclusive financial advisor to Great Hill Partners on its acquisition of Storyblocks, the first and largest subscription-based stock media company.
Headquartered in Arlington, VA, in the Washington DC metropolitan area, Storyblocks provides video, audio, and imagery through its unique subscription model. As a testament to its culture of creativity and innovation, Storyblocks has been recognised on the Inc 5000 list for seven consecutive years and was recently named one of Washington DC’s Top Workplaces by The Washington Post, and among the Best Places to Work by the Washington Business Journal.
Great Hill Partners is a Boston-based PE firm targeting investments of $25-500m 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 $8bn 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.
This partnership with Storyblocks is Great Hill Partners’ latest digital commerce addition to its portfolio and will allow the company to accelerate its mission of modernising the creative process to better support affordable, efficient video creation and to extend its current capabilities and product offerings.
TJ Leonard, CEO of Storyblocks, commented: “We have seen dramatic changes to workflows for customers ranging from freelancers to small businesses to major production studios in recent years as they adapt to an ever-increasing demand for high-quality video content. We are excited to partner with the Great Hill team because we share the belief that creatives are hungry for a new model to meet these new needs.”
“Flexible, affordable, high-quality content has become a prerequisite for individuals and creative teams looking to leverage social media and video platforms. Storyblocks is uniquely positioned as a dynamic category leader to serve creatives as the industry continues to evolve,” said Michael Kumin, Managing Partner at Great Hill Partners.