Freepik, a Malaga-Spain based site which provides a curated freemium marketplace of vector graphics and stock pictures fed by a community of contributing professional photographers and designers, is being acquired by investment and private equity company EQT.
The EQT Mid Market Europe fund has actually participated in an arrangement to get a bulk stake of Freepik from its creators and management team, who will remain on as minority owners, with co-founders, Alejandro and Pablo Blanes and Joaquin Cuenca, continuing to lead the company everyday, the set stated in a
news release today. EQT believes beneficial worldwide trends are set to feed Freepik’s service, with the PE firm indicating factors such as the increasing shift to digital marketing, the”worldwide democratization of material production” through social media and the rise in mobile media and online video gaming– areas it says have shown resilience to economic downturns and declines.
Freepik, which was founded back in 2010 and declares to be the biggest freemium company of digital visual content worldwide, has some 32 million monthly visitors to its website, 20M registered users and 5BN downloads to date– with the site offering more than 10M graphic resources, including icons, templates, vectors, and images.
Freemium users of the repository can access “thousands” of graphical resources, while premium fee-paying users have access to a far broader choice of material and unlimited downloads. All submissions are reviewed, with just a subset chosen for the marketplace. While content sourcing is data-driven, based on Freepik crunching download data to much better understand consumer demand.
On the supplier side, Freepik has a network of over 450 internal freelancer graphical designers in addition to 9,000+ external contributors, per its site. It runs under two extra brands (Flaticon and SlidesGo).
EQT said today it will support Freepik’s accelerated development by purchasing its exclusive content library, UX and tech platform– including AI and tool integration capabilities. Widening Freepik’s market penetration in markets such as the US and Asia is another goal for the acquisition, given EQT’s slated “digital proficiency” and international presence.
Commenting in a declaration, Victor Englesson, partner at EQT Partners and investment advisor to EQT Mid Market, said: “We are impressed by Freepik’s accomplishments and EQT is happy to partner with its co-Founders to assist attain its full potential. Freepik is supported by many favorable secular megatrends and represents a really thematic financial investment, which fits strongly with EQT’s focus on development financial investments and partnerships with world class management groups.”
EQT is a respected financier in and buyer of tech start-ups, acquiring the similarity b2b payment transfer company Banking Circle and commercial Linux circulation Suse in the last few years. It’s also just recently purchased Peanut, a social network for moms; Anyfin(consumer loans refinancing); Netlify(microservices for constructing websites); and Wolt(food shipment), among others. The firm has more than EUR 62BN in raised capital and some EUR 40BN in assets under management throughout 19 active funds. “We are really thrilled to partner with EQT and look forward to working together, “added Freepik co-founder Cuenca in another statement on the acquisition.”EQT’s digital and sector competence, worldwide platform, integrated with local presence throughout Europe, the US and Asia, in addition to its comprehensive network of consultants will be essential to our future success and of excellent worth for the fortifying of our management team.”The value of the acquisition has actually not being divulged. The transaction is expected to close in June 2020. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.