Shutterfly Inc. (Nasdaq: SFLY) has acquired GrooveBook for $14.5 million.
GrooveBook provides a monthly photo subscription service for cell phone users. According to the company’s website, GrooveBook provides “your phone photos shipped to you in a keepsake photo book for only $2.99.” The company received an investment from investor Kevin O'Leary after being featured on the television program "Shark Tank." O'Leary built software company SoftKey and is on the board of private equity firm Genstar Capital.
Redwood City, California-based Shutterfly manufactures and sells personalized, often photo-based products and services. The company has made several other acquisitions. In April 2013, the company bought MyPublisher, which develops photo-book software. In January 2013, Shutterfly bought ThisLife, a cloud-based photo and video service.
In July, rumors swirled that the company had hired Qatalyst to sell.