Apollo Global Management, a private-equity firm, bought Shutterfly in 2019 for $2.7 billion. Founded in 1999, Shutterfly went public in 2006, right before photography shifted to mobile phones and people began sharing photos on social media. The company was briefly led by Ryan O'Hara, who was appointed in June and was replaced in November by Hilary Schneider, the former CEO of Wag, a dog-walking service.