Alamy hits 10 million images
Oxfordshire, UK, 8 October 2007
From nought to 10 million images in under eight years. That’s the success being celebrated by Alamy, a UK internet start-up company that is now the web’s largest stock photo site.
Formed in 1999, the company, based in Abingdon, Oxfordshire, has experienced phenomenal growth to reach today’s milestone figure of 10 million images.
Alamy employs over 50 people at its UK headquarters and another 100 plus in its offices in Kerala, India. It sells images to picture buyers worldwide on behalf of 10,000 photographers and over 400 picture libraries.
Still privately owned, Alamy is a family business that has carved out a unique place in the world of stock photography. It combines a pioneering, entrepreneurial style with a philanthrophic approach.
It was started by CEO James West with his uncle and company chairman Mike Fischer, co-founder and former CEO of RM Plc, the leading provider of IT solutions to UK schools, colleges and universities.
Their vision of creating a large, open, unedited, online collection has helped to revolutionise the stock photo industry. Anyone can submit to Alamy as long as they meet technical requirements and contributors retain ownership and control of their pictures, receiving 65 per cent of each sale, one of the highest rates in the industry.
As the company has grown it has invested in new technology to improve its search engine so that customers can find the right image quickly and easily. It is currently working on a new generation of products and services.
The company turnover for 2006 was £13.8 million/ $24 million and is projected to exceed £14.5 million/ $28 million in 2007. Alamy turned profitable in 2004 and, since 2006 has been providing approximately £1 million/ $2 million a year to a number of medical research projects, one of which is operating at the UK headquarters where researchers are working on a therapeutic cancer vaccine.
CEO James West said “Alamy’s success demonstrates that it is possible to offer customers an encyclopaedic collection, pay photographers the lion’s share, and still be profitable.”
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