This startup Freepik entrepreneurial ecosystem won since May 2020 around 250 million euros.
The so-called Google of Images, founded by Joaquín Cuenca, Alejandro Sánchez and Pablo Sánchez, was bought by the Swedish fund EQT (the same one that acquired Idealista) in May 2020 for 250 million euros.
This Malaga firm, founded in 2010, offers a bank of digital content, especially images, to digital marketing and video game professionals, but also for home use.
Freepik entrepreneurial ecosystem
Before the arrival of EQT, the bank of images and visual resources on the internet had reached a milestone: 30 million euros of revenue without the help of investors.
According to Joaquín Cuenca, co-founder and current CEO of Freepik, the sale to EQT was much more professional than the one he lived with Panoramio (acquired by Google in 2007).
"At Panoramio it was Eduardo and I negotiating with Google. Here a sales process was made, competitors were talked to, advisors were talked to. It lasted about 9 months. This was a process by the book, following all the steps”"
"Freepik continues to maintain itself with the income it generates. What has changed is a greater professionalization of management and the management layer of the company," he explains to .
Freepik entrepreneurial ecosystem statements
“The most interesting part of an exit is not the snap of the sale, but the number of people in the world who find utility in what we do. Giving a service and helping so many people is what interests me and what has more impact than the sale itself. Today we have almost 500 workers and also many collaborators earn a living thanks to Freepik”.
For Cuenca, "Success is something very personal, for me it consists of adding value to people or creating a positive impact. An exit is someone who wants to pay an amount for a project or company that you have created; if that was your goal, then it will be a success; if not, it is another process with regard to the management of the company”.
Recently, the Malaga-based Freepik Company announced a new international leap with the acquisition of the British company Videvo. A strategic purchase that provides Freepik Company users with more than 500,000 videos, audio clips and resources.
Freepik entrepreneurial ecosystem projects
Flaticon & Freepik
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