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Photo printing app GrooveBook acquired by Shutterfly

A photo-printing app that obtained backing through the show "Shark Tank" has been purchased by Shutterfly, according to a report in TechCrunch.

GrooveBook, a subscription-based photo printing app that allows users to create personalized photo albums, was acquired by Shutterfly—a giant in online photo printing—for $14.5 million, according to the report.

After the startup appeared on "Shark Tank," the company's subscriber base grew from 18,000 to more than 500,000, the company said in a later release.

TechCrunch has the full report.