Freepik

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Magnific
FormerlyFreepik (2010–2026)
TypePrivate
Industry
Founded2010 (2010) in Málaga, Spain
FoundersJoaquín Cuenca Abela, Alejandro Sánchez Blanes, Pablo Blanes
Headquarters
Málaga
,
Spain
Number of locations
3[1]
Area served
Worldwide
ProductsAI image and video generation software, image upscaling software, stock media, design templates, collaborative design platforms
BrandsFlaticon, Slidesgo
OwnersEQT (majority holder)
Joaquín Cuenca Abela (CEO and co-founder)
Alejandro Sánchez (co-founder)
Pablo Blanes (co-founder)
WebsiteOfficial website

Magnific, formerly known as Freepik, is a Spanish software company that develops tools for generative artificial intelligence and distributes stock and other visual content for creative professionals. The company operates on a Freemium business model and provides access to stock images, vector graphics, video, audio, and design resources.[2][3] The company is headquartered in Málaga, Spain, and has additional offices in San Francisco, United States, and Cartagena de Indias, Colombia.[4][5]

The company was founded in 2010 by Alejandro Sánchez, Pablo Blanes, and Joaquín Cuenca Abela as a search engine for free graphic resources.[6][7][8] It later expanded into stock content production, contributor-driven distribution, and generative artificial intelligence tools.

In 2020, Swedish private equity firm EQT acquired a majority stake in the company.[9][2] In 2024, Freepik acquired the AI image upscaling startup Magnific,[10][11] and in 2026 the company rebranded as Magnific.[12][13][14][15]

History

Magnific was founded in 2010 by brothers Alejandro Sánchez and Pablo Blanes together with Joaquín Cuenca.[3][16][17][18] The company initially operated as a search engine indexing free graphic content hosted on third-party design websites.[3]

In 2014, Magnific began producing its own graphic resources. A premium subscription model was later introduced, along with a contributor program that allowed designers and photographers to upload content and earn revenue from downloads. In 2018, the company updated its visual identity and logo.[19][20]

In 2020, Swedish private equity firm EQT acquired a majority stake in the company.[6][21][22] The same year, Magnific temporarily provided free access to its resources for healthcare workers, educators, and public institutions during the COVID-19 pandemic.[23]

In June 2022, Magnific acquired Videvo, a UK-based stock video and audio platform.[24] In October 2022, the company acquired Iconfinder, a Danish icon marketplace, and Original Mockups, a Colombian 3D resource and mockup template provider, expanding its presence in Europe and Latin America.[25]

In October 2023, Magnific acquired EyeEm, a German stock photography marketplace, after it filed for bankruptcy.[26] The same year, the company opened an office in San Francisco, United States.[4] The company also maintains an office in Cartagena, Colombia.[27]

In May 2024, Magnific (formerly Freepik) acquired Magnific, a Spanish AI image upscaling and enhancement startup founded in 2023 in Murcia by Javi López and Emilio Nicolás.[10][28] The startup reported more than 725,000 registered users within five months of its launch.[29]

In April 2025, the company partnered with Fal.ai to release F-Lite, an open-source text-to-image model trained on licensed images from its stock library.[30] In May 2025, the company introduced an enterprise plan for organizations, offering centralized access management, usage-based credits, and legal protections for AI-generated content.[31]

In 2026, the company rebranded from Freepik to Magnific, adopting the name of its 2024 AI acquisition as its new corporate identity.[12][32][33][34][35]

Products and services

Magnific provides tools for image, audio, video generation, image upscaling, and enhancement, along with a stock content library, design templates, and collaboration features for content production.[2][4][36][37][38][39]

The platform integrates multiple AI tools for content creation and editing, including image generation using text-to-image models such as Google Imagen, Flux, Seedream, and Ideogram, video generation based on text-to-video and image-to-video models including Google Veo, Runway, Kling, Seedance, and MiniMax, and image upscaling and enhancement capabilities originally developed by the Magnific AI startup prior to its acquisition, which increase image resolution and add visual detail.[10][40][41][42][43] It also includes text-to-speech functionality for voice generation in multiple languages, image editing tools such as background removal and retouching, and model-based customization features for maintaining consistent visual styles and characters across generated outputs.

The platform distributes a library of stock photographs, vector graphics, illustrations, video clips, audio files, icons, templates, and mockups.[44] The company's enterprise plan, introduced in 2025, provides organizations with a credit-based system for accessing AI tools and stock content, along with centralized administration features such as team management, role-based permissions, and usage controls.[45] It also includes legal indemnification for eligible AI-generated and stock content under the terms of the enterprise agreement.[46][47]

Magnific Originals is an initiative for producing AI-generated audiovisual works, including films, series, and documentaries, in collaboration with external creators and filmmakers. The program provides participants with access to the company’s AI tools for content production. Reported projects associated with the initiative include The Chronicles of Bone, an AI-generated fantasy series created using Magnific’s tools.[48]

Magnific later introduced Magnific Agents and Magnific MCP (Model Context Protocol), tools intended to support automated and AI-assisted workflows. Magnific Agents provides a way for external systems to interact with Magnific’s content and generation features within workflows, while Magnific MCP enables integration of the Magnific API with AI assistants and development environments via the Model Context Protocol, supporting functions such as content search, image generation, and resource management.[49]

Leadership

Joaquín Cuenca Abela has served as CEO and co-founder since the company's founding in 2010.[50] Prior to co-founding the company, he founded Panoramio, a geotagged photo-sharing service launched in 2005 and acquired by Google in 2007.[51] He later worked at Google in Zurich as technical lead for the Panoramio product.[52]

Earlier in his career, Cuenca Abela contributed to the development of Loquo, a classified advertising platform acquired by eBay in 2005.[52]

Recognition

In G2's 2022 Best Software Awards, Freepik Company ranked 17th on the "Best EMEA Sellers" list.[53] Magnific also ranked 43rd on G2's 2022 "Best Design Products" list.[54]

References

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  2. "EQT acquires Freepik Company, the global leading freemium provider of digital visual content". EQT. 2020-05-28. Retrieved 2026-04-27.
  3. Velasco, Juan Jesús (2017-10-11). "Freepik, la web "made in Málaga" de contenidos para diseñadores que factura 1,2 millones de euros al mes". Xataka (in Spanish). Retrieved 2026-04-27.
  4. DiFeliciantonio, Chase (2024-04-22). "Vibrant S.F. neighborhood gets a makeover from AI-generated paint jobs". San Francisco Chronicle. Retrieved 2026-04-27.
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  30. Wiggers, Kyle (2025-04-29). "Freepik releases an 'open' AI image generator trained on licensed data". TechCrunch. Retrieved 2026-04-27.
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  41. Gage, Matt (2026-04-28). "How a Spanish startup pivoted to video AI and built a $230 million ARR business". Fortune. Retrieved 2026-06-23.
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