The CEO of Shutterstock, the popular image and video marketplace, recently became the first billionaire from Silicon Alley--New York City's growing tech scene. Jonathan Oringer, who founded Shutterstock in 2003, owns 55 percent of the company and has 18.5 million shares, according to Bloomberg.
The site is currently home to nearly 28 million licensed photos, illustrations and videos. Since Shutterstock's public offering last October, the company has tripled in selling shares.
"There is a change going on in the city that is leveraging the inherent strength in New York,” said Frank Rimalovski, who is the managing director of New York University’s Innovation Venture Fund. “Think about Tumblr and Shutterstock. They didn’t have to break any new laws of computer science or electrical engineering to build their business.”