Subsequent Events

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

Subsequent Events

Note 6 - Subsequent Events

On March 1, 2012, the Company entered into an agreement with Eastman Kodak Company (“Kodak”) for the proposed sale of certain assets of its Kodak Gallery online photo services business for $23.8 million.  The terms of the agreement include the transfer of Gallery customer accounts and images in the U.S. and Canada to Shutterfly.  The agreement comprised the initial stalking horse bid in a Court-supervised auction.  Subsequent to the end of the quarter, on April 24, 2012, the Company announced that there were no competing bidders in the $23.8 million stalking horse bid.  On April 30, 2012, the transaction was approved by the bankruptcy court and on May 2, 2012 the transaction closed.