In 2010 the brothers Alejandro and Pablo Blanes founded their first project together with their friend Joaquin Cuenca. They called it Freepik, and their idea was to enable users to find quality graphic resources.
That startup has managed to position itself as an important reference in the market of stock images, and ten years later that work has been completed: the Swedish investment fund EQT has bought a majority share of Freepik.
In this segment, Freepik competes with other services such as Shutterstock, but the Spanish company has managed to position itself as one of the great companies in the sector, relying on an immense catalogue and a freemium model that allows certain images to be downloaded for free but gives access to a paid catalogue of greater variety and quality for professionals in the field of graphic design.
The amount of the transaction is not known, but the value of Freepik could be around 150 million euros. The EQT fund is thus made with a majority participation, although the KKR fund and several other competitors have participated in the operation.