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Shutterfly, the online photo site based in Silicon Valley (Redwood City) is pursuing a sale or possible initial public offering, the Wall Street Journal reports, citing sources — in a deal targeted at $400 million to $500 million.
It is about time, as this venture-backed company has been profitable for three years, Jeff Housenbold told us in a conversation a few months ago (the WSJ estimates profits are at $20 million, which is good stuff for this shaky sector). The industry is going through bewildering change, with upstarts like Flickr and others taking market-share from the older guys. Photobucket has got a lot of momentum too.
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