Freepik Company, the parent company behind global providers of freemium illustrations (Freepik), icons (Flaticon), presentation templates (Slidesgo) and an online editor (Wepik), is now taking on the audio and video categories with a strategic acquisition of Videvo.
Visual content is a growing marketplace. It’s now a priority space for marketing teams, business analysts and companies right around the world, and the space is growing and innovating at an astounding pace. This new deal is giving the Spanish company the chance to grow its content portfolio and enter the audio and video content categories as a strong market contender.
Founded in 2010, Malaga-based Freepik was launched with the vision to create a platform that can be used to find free graphic resources, and they’ve certainly established themselves as a market leader. In 2018, the company was listed in the Financial Times “Fastest Growing European Companies” Ranking with more than 450 employees, 450 exclusive remote designers and over 23k registered contributors. The parent brand of Freepik, Flaticon, Slidesgo and Wepik, the firm has been pioneering innovation in the content space for some time now, and this new deal marks an exciting milestone.
Carlos Marín, Chief Strategy Officer of Freepik Company: “This acquisition is a key step towards our ambition of becoming leaders in the video segment. Freepik Company’s products are present in 99% of the countries worldwide and we already lead the freemium markets in which Freepik, Flaticon and Slidesgo are present. We intend to do the same with Videvo in the stock video category and, thanks to the integration with Freepik Company, we expect to more than double Videvo’s revenue in the upcoming years. We are thrilled to have the whole Videvo team joining us and pushing towards our shared vision”.
Based in Oxford, UK, since 2012, Videvo offers free stock footage and motion graphics for both commercial and non-commercial projects. Founded by Tom Limb, it currently reports over 650k users from around the world and is one of the most valued stock video websites out there. In the past years, Videvo introduced a subscription plan which supported the company’s growth of more than 100% within the last two years.
Tom Limb, founder and CEO of Videvo said: “Becoming part of Freepik Company is an exciting adventure for us, we have achieved important milestones and positive results in these ten years and now is the time to strengthen our position in the stock video market with the support and reach of the strongest player in the industry”.
Through this new deal, Videvo will become the official brand for Freepik Company’s stock video and audio product, which will be led by Tom Limb, and currently adds eight employees, based in the UK, to the wider Freepik team. It’ll provide Freepik Company’s users with more than 500K video assets, audio clips and motion graphics resources that will help creators from around the world to develop their personal and/or professional projects using a unique source of content.
Joaquín Cuenca, co-founder and CEO of Freepik Company, added that: “Freepik Company is the only European contender in the competitive tech and content distribution industry, our products are leaders in illustrations, icons and presentations, and now, with Videvo’s acquisition, we add a world-class collection of videos and sound effects to our portfolio”.