Shutterfly goes IPO

Shutterfly, based in Redwood City, Calif., closed at $15.55, up 3.7% from its IPO price of $15. It sold 5.8 million shares at the high point of its expected price range, which was set by underwriter J.P. Morgan Chase & Co.

Shutterfly operates a Web site where people can upload, share, and order prints of their digital photos. In the first six months of this year, its net revenue rose 34% to $36.5 million, compared with a year earlier, as customers ordered more prints and print-related merchandise like calendars and greeting cards. The company's net loss widened to $3.7 million from $1.3 million as its operating expenses outpaced revenue gains.

I am staying away from this. I think this field is so crowded. I think ofoto has a lot of power on this. Too bad, webshot WAS very good. :)