Technology

Pump Audio

Founder: Steve Ellis
Acquisition Price: $42 million
Buyer: Getty Images
Funding: $2.5 million from Greycroft Partners and High Peaks Venture Partners

The Runup:
With its core business under siege from the growing market for online "microstock" photography, stockpiles of photos snapped and sold on the cheap by amateurs, Getty Images acquired citizen-photography sites WireImage, Punchstock, and Scoopt in the early part of the year. In June, the company followed up with another big digital play: Pump Audio, a site founded in 2001 that helps independent musicians and music labels sell songs to movie studios, TV networks, and the like.

The Payoff:
Asked what the deal means in the context of his career, Pump Audio founder Steve Ellis says: "As I've never really worked for anyone corporate before, I've never really considered myself as having a career. I suppose I might have one now, though." Getty has already started to cross-market its new properties: on the front page of Punchstock, a banner reads: "Music for your project/ Pump Audio is here."