Success 1 with Thilo Semmelbauer
Thilo Semmelbauer: Two experiences worth mentioning when I started Weight Watchers online business, there was no revenue. It grew to a peak of about 400 million in revenue with, probably more importantly, millions of users. Many of them satisfied and some of them having had significant life changes, which was very gratifying.
Thilo Semmelbauer: Shutterstock is probably one of the things I’m most proud of in my career and during my time there, it grew from 50 million to 350 million in revenue over the course of five years.
Dave Carvajal: Yeah, and there was an IPO in there as well.
Thilo Semmelbauer: There was an IPO, which was I think a great confirmation for this sort of staying power in the company and the impact that it has on the industry.
Dave Carvajal: Thilo, what is the impact of some of your greatest achievements? What are you most proud of?
Thilo Semmelbauer: Yeah, well I mean, I think at Weight Watchers, the whole brand is around helping people so that’s something I really connected with. I mean, helping people lead healthier lives, lose weight, make personal transformations.
Thilo Semmelbauer: Weight Watchers had been doing that for 40 years but we were trying to bring that into the online experience as well and I think one of the most exciting things that happened after we built and launched the product was seeing people purchase it online. I mean, watching the ticker that people were actually buying what we built.
Thilo Semmelbauer: But, I think that paled in comparison to hearing stories of people months later and over the years that had success with it, with either right in or…
Thilo Semmelbauer: I would meet users, after having millions of users, it was not so hard to people who would just come up to me and say, “Wow, you were involved with Weight Watchers online. It really helped me, I lost 30 pounds. I became healthier. This happened, that happened.” And to hear those stories that people’s lives changed in some way, that made me feel great.
Thilo Semmelbauer: It happened at Shutterstock as well, although in different ways. I mean, even before I got there, the concept behind the Shutterstock subscription offering was very appealing.
Thilo Semmelbauer: But once we blew it out and got a lot more users on the platform and made the product better and improved the content, one woman came up to me who’s a customer who said, “We used Shutterstock so much we’ve turned it into a verb. In office, when we have a creative problem we say, ‘Hey, let’s Shutterstock it.’
Thilo Semmelbauer: And they go on the site and they got lots of ideas. And I had never thought about Shutterstock that way but the fact that it was getting such heavy use and had such appeal for creative people. That was very powerful.
Thilo Semmelbauer: And I think Shutterstock, being a marketplace business, equally powerful where some of the stories on the contributor side. I mean, photographers, videographers all over the world.
Thilo Semmelbauer: One woman, I remember we invited her into the office, who worked from her home in a small town in Siberia halfway around the world selling her images and her illustrations to customers all over the world and she was making a living doing that.
Thilo Semmelbauer: And there’s probably no way she would be able to pursue that passion without Shutterstock, so again, maybe small ways but important ways of touching people’s lives. I mean, that’s exciting.