Shutterfly 2014 Annual Report Download - page 4

PART I
Except for historical financial information contained herein, the matters discussed in this annual report on
Form 10-K may be considered forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and subject to
the safe harbor created by the Private Securities Litigation Reform Act of 1995. Such statements include
declarations regarding our intent, belief, or current expectations and those of management. Prospective investors
are cautioned that any such forward-looking statements are not guarantees of future performance and involve a
number of risks, uncertainties and other factors, some of which are beyond our control; actual results could
differ materially from those indicated by such forward-looking statements. Important factors that could cause
actual results to differ materially from those indicated by such forward-looking statements include, but are not
limited to: (i) that the information is of a preliminary nature and may be subject to further adjustment; (ii) those
risks and uncertainties identified in this annual report on Form 10-K under ‘‘Risk Factors;’’ and (iii) the other
risks detailed from time-to-time in our reports and registration statements filed with the Securities and Exchange
Commission, or SEC. Except as required by law, we undertake no obligation to revise or update publicly any
forward-looking statements, whether as a result of new information, future events or otherwise.
ITEM 1. BUSINESS.
Overview
Shutterfly, Inc. was incorporated in Delaware in 1999. In September 2006, we completed our initial
public offering and our common stock is listed on the NASDAQ Global Select Market under the symbol
‘‘SFLY.’’ Our principal corporate offices are located in Redwood City, California.
We are the leading manufacturer and digital retailer of high-quality personalized products and services
offered through a family of lifestyle brands. Our vision is to make the world a better place by helping
people share life’s joy. Our mission is to build an unrivaled service that enables deeper, more personal
relationships between our customers and those who matter most in their lives. Our primary focus is on
helping consumers manage their memories through the powerful medium of photography. We provide a
full range of personalized photo-based products and services that make it easy, convenient and fun for
consumers to upload, edit, enhance, organize, find, share, create, print, and preserve their memories in a
creative and thoughtful manner.
We operate trusted premium lifestyle brands: Shutterfly, Tiny Prints, Wedding Paper Divas, ThisLife,
MyPublisher and BorrowLenses.
Shutterfly leads the market in digital personalized photo products and services. Shutterfly helps our
customers turn their precious memories into lasting keepsakes with award-winning photo books,
personalized holiday cards, announcements, invitations and stationery, as well as custom home decor
products and unique photo gifts. Our online photo service helps our customers stay connected with
family and friends, empowering them to do more with their pictures by expressing themselves in
extraordinary ways.
Tiny Prints is the leading online cards and stationery boutique, offering stylish announcements,
invitations and personal stationery for every occasion. Started by three friends with big dreams and a
passion for beautiful paper, Tiny Prints has grown from a tiny self-funded company specializing in
unique baby stationery to a booming online destination for stylish stationery, for every occasion.
Customers (celebrities and top designers alike) seek us out for our fresh designs, premium paper and
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