Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services.
"Excluding the impact from Webdam, which was sold in the first quarter of 2018 (the "Sale of Webdam"), revenue growth was approximately 14.7% for 2018 compared to 2017. We are focused on continuing to improve the efficiency, speed and performance of our platform; to evolve and personalize our customer and contributor experiences; and to motivate a talented global team to drive revenue growth and improved margins in 2019 and beyond. (2) Represents images (photographs, vectors and illustrations) and video clips available on shutterstock.com at the end of the period. Images (photographs, vectors and illustrations) and video clips available on shutterstock.com at the end of the period. Historical revenue totals reflect those previously reported and have not been restated. (1) Revenue per download is defined as the amount of revenue recognized in a given period divided by the number of paid downloads in that period excluding revenue from custom content and the impact of revenue that is not derived from or associated with content licenses. Revenue of $156.6 million for the second quarter of 2018 increased $22.6 million, or 16.9%, as compared to the second quarter of 2017, driven by the expansion of our product offerings to better meet the needs of our e-commerce customer … Revenue growth on a constant currency basis was approximately 10.7% and revenue growth excluding the impact from Webdam on a constant currency basis was approximately 13.5% for 2018 compared to 2017.Revenue generated through our e-commerce platform increased 10.0% as compared to the full year 2017, to The lower effective tax rate during 2018 was primarily a result of the Tax Cuts and Jobs Act ("TCJA"), which, among other changes, lowered the U.S. statutory federal tax rate from 35% to 21% effective Revenue generated through our e-commerce platform increased approximately 8.8% as compared to the fourth quarter of 2017, to We paid net cash taxes of $0.6 million in the year ended December 31, 2018, compared to During the fourth quarter of 2018, we did not repurchase shares of our stock pursuant to our existing stock repurchase program. We exclude certain content available to customers, including custom content and content that may be licensed for editorial use only.
In addition, effective January 1, 2018 we adopted Accounting Standard Update 2014-09 using the modified retrospective approach. Historical revenue totals reflect those previously reported and have not been restated. Common stock, $0.01 par value; 200,000 shares authorized; 37,618 and 37,270 shares Treasury stock, at cost; 2,558 shares as of December 31, 2018 and December 31, 2017Adjusted EBITDA, adjusted net income, revenue excluding the impact of Webdam, revenue growth on a constant currency basis and free cash flow are not financial measures prepared in accordance with United States generally accepted accounting principles (GAAP). 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