Kodak Seeks to Sell Online Photo-Sharing Business Kodak Gallery
In a bid to raise money to fund its turnaround, Eastman Kodak Co. is trying to sell its online photo-sharing business, Kodak Gallery, people familiar with the matter said.
The people said the onetime film giant has approached photo-sharing websites, competitors, private-equity firms and retailers about buying the unit, which enables users to store their digital photos and print them out into scrapbooks, cards and calendars for a fee.
The Rochester, N.Y.-based company is seeking “hundreds of millions of dollars” for Kodak Gallery, according to a person who has been approached to buy the business. But the site has been losing users in recent years, and the drop in traffic is a big deterrent to potential buyers, people who were approached say.