Freepik, a Spain-based stock media company focused on the freemium model, recently announced the acquisition of stock footage and audio provider Videvo.
Videvo, which also offers both free and paid downloads on its website, will now become Freepik’s official stock video brand, bringing hundreds of thousands of clips to its portfolio. The company expects to grow Videvo’s revenue by 2x in the coming years, too.
Read on for more details on this leadership change.
Freepik Company: An European Leader in Freemium Stock Media
Freepik Company is based in Málaga, Spain, and has enjoyed meteoric and sustained success in the industry since its launching in 2010 with its freemium offer that mixed a large selection of free-downloadable content and an opt-in premium subscription with access to higher-end, royalty-free downloads.
Right now their platform includes Freepik (stock illustrations), Flaticon (icons), Slidesgo (presentation templates), and Wepik (online editing tool), all of which operate under a freemium model.
Co-founder and CEO of Freepik Company, Joaquín Cuenca, highlights that they are one of the very few European competitors in the tech and content distribution industry and that their products are already dominating the freemium markets they are present in. According to Carlos Marín, Project Strategy Officer at Freepik, their services are present in 99% of the countries worldwide.
By acquiring Videvo, the firm is set to add stock video to its portfolio and increase its foothold in the global, stock media field.
Videvo: The New Freemium Video Brand by Freepik
As you can read in our full Videvo review, this company was launched in 2012 and is based in Oxford, UK. Initially offering free stock videos and motion graphics, they later added a paid membership offer to access premium content.
Thanks to this paid subscription they grew their revenue by more than 100% in the last two years. Today, they report more than 650K active users around the world – mostly concentrated in English-first markets like North America, the UK, and Australia.
Following the acquisition, Videvo will now be the official stock video brand on the Freepik platform. The merger will give Freepik users access to 500k+ stock footage, stock audio, and motion graphics files. Freepik’s Carlos Marín also shared they expect to more than double Videvo’s revenue in the coming years.
Last but not least, this purchase will add a UK-based team of 8 employees –led by Videvo founder and CEO Tom Limb– to Freepik’s 450+ staff base.
Have you used Videvo before? What do you think of this new development?
