snapfish for sale

Snapfish, a web based photo sharing app owned by Hewlett-Packard Co. will probably go on sale in the coming months.  According to sources, HP is contemplating selling Snapfish and has also started having private meetings and discussions with multiple private equity and buyers regarding the same.

The web based photo sharing app was bought by HP in 2005 for a whopping amount of $300 million. The company is considered a non-core part of the company and sits within HP’s printing and personal systems group. No one from HP is ready to comment on the sale for now.

Snapfish has around 90 million members from 12 countries who have stored about two billion unique photos online.

HP is considering sticking to its knitting as it is eyeing a successful second quarter of sales growth in a row after an eleven year declining revenue period. HP posted a 1 percent year over year sales uptick to $27.6 billion for the fiscal Q3 2014. The product which did wonders for the company are its PCs. They showed a 12 percent increase in its revenue for the period.

In 2013, Hewlett-Packard Co. had replaced Todd Bradley, long time head of printing and personal business with Dion Weisler, who was a former Lenovo Executive. After leaving the tech company, Bradley joined Tibco Software Inc. as the company’s President.

Snapfish is facing tough competition from another online photo sharing services provider called Shutterfly Inc. in the sale market. A lot of prospective buyers have expressed interest in both the companies.

According to sources, Shutterfly had already hired Frank Quattrone’s Qatalyst Partners this summer in order to search for a buyer, and it is expected to finish its work in another couple of weeks.  Apparently Shutterfly’s asking price is a whopping $ 2 billion, an amount which could dwarf what HP could ask for Snapfish.

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