PictureVision
Online Digital Imaging Solutions
Company Overview
Snapshot
Founded in January 1995 by Yaacov Ben-Yaacov, Phil Garfinkle, and Elliot Jaffe, PictureVision operated with 11–50 employees. The company was acquired by Eastman Kodak in January 2000.
Business overview
PictureVision developed digital imaging solutions for the mass consumer market, focusing on bringing the convenience of digital photography online. Its core product, PhotoNet, enabled users to store and share pictures via the internet. The company operated within the Media & Entertainment Technologies sector, specifically in Digital Content Engagement & Entertainment, utilizing web platforms and interfaces to serve consumers.
Strategic signal
In November 2001, Eastman Kodak announced the closure of its Israeli subsidiary, PictureVision, resulting in 36 layoffs in Israel and nearly 100 in the US. This event signals a growth-negative impact for Eastman Kodak, indicating a strategic shift away from PictureVision's operations and a significant operational restructuring for the acquired entity.
Log in to access full profile ›Company Intelligence Q&A
- What was a key product developed by PictureVision?
- PictureVision developed PhotoNet, a product that allowed users to store and share digital pictures through the internet.
- When was PictureVision acquired and by whom?
- PictureVision was acquired by Eastman Kodak in January 2000.
- What was the reported acquisition amount for PictureVision?
- Eastman Kodak Co. purchased the outstanding shares of PictureVision for $90 million in May 2000.
- What was the strategic rationale behind Eastman Kodak's acquisition of PictureVision?
- The acquisition of PictureVision by Eastman Kodak Co. in May 2000 was intended to accelerate Kodak's rollout of online products and services. Prior to the full buyout, Kodak held a 51% stake in PictureVision, which provided network infrastructure for Kodak's online photo services.
- What happened to PictureVision after its acquisition by Eastman Kodak?
- In November 2001, Eastman Kodak announced the closure of its Israeli subsidiary, PictureVision, leading to 36 layoffs in Israel and nearly 100 in the US. The closure was effective in March 2002.