Since inception, Shutterfly fulfilled more than 11 million orders, sold approximately 350 million prints and stored more than 900 million of their consumers’ photos in image archives.

According to the filing, the company currently address several adjacent markets related to consumers’ desire to be thoughtful and creative with their memories, including:

Photo prints: Photo prints currently represent our largest market opportunity, with industry sources estimating the U.S. market for digital photo prints to be approximately $10 billion in 2005 and growing to approximately $30 billion in 2009. In addition, industry sources predict that in the United States, photos ordered over the Internet for mail delivery will grow from approximately $424 million in 2005 to approximately $1.9 billion in 2009

Greeting cards. According to the Greeting Card Association’s website, U.S. consumers purchase approximately 7 billion greeting cards each year, generating nearly $7.5 billion in retail sales.

Scrapbooks. According to a 2004 survey by Creating Keepsakes and Craftrends magazines, the U.S. scrapbook industry was approximately $2.55 billion in 2004, up 27.8% from 2001.

Calendars. In a 2002 guide published by the Calendar Marketing Association, it estimated that 500 million calendars are produced annually in the United States.

Photo-based merchandise. Photo-based merchandise is a substantial market opportunity that includes any product that can be customized with the imprint of a digital image.