Freepik Acquires Magnific
Summary
Launched five months ago in Murcia, Spain, Magnific provides an AI tool that enhances the quality and resolution of images but also allows users to take control by creating new details. Led by CEO Joaquín Cuenca Abela, Freepik is a provider of a design platform with audio-visual resources and generative AI tools. Its resources include photography, video, design assets like icons and mockups, plus presentation templates. Freepik is the parent company of Flaticon, Slidesgo, Videvo, Iconfinder, Wepik, and EyeEm – design tools that empower more than 100 million monthly users worldwide. The strategic acquisition is Freepik’s biggest to date – it acquired EyeEm (Germany) last year, and Videvo (UK), Original Mockups (Colombia), and Iconfinder (Denmark) in 2022.