Shutterfly Buys Group Sharing Site Nexo For Less Than $15 Million

Shutterfly, the online photo printing and sharing service, has bought online groups and personal publishing service Nexo Systems, for less than $15 million in cash and stock. Nexo, based in Palo Alto, CA, launched last year at Demo. Its service combines personal website creation, integrated e-mail communications, social networking and group collaboration features, something many other services do as well in various bits and parts. More in this release.

Bizjournals: The news came at the end of a week when the company’s stock lost about a quarter of its value due to concerns about a price cut by rival Snapfish, owned by HP.