Freepik, the EQT-owned audio and visual content provider, has acquired once Instagram challenger EyeEm. Through the acquisition, Freepik gains access to over 160 million photographs assembled by the EyeEm community since 2011.
A phoenix rising, EyeEm will operate as an independent business, now just under the Freepik umbrella. The financial terms of the deal remain undisclosed.
Tech.eu brought you the news earlier this year that Berlin’s once-a-challenger-to-Instagram photo sharing, and then evolving into stock photography platform EyeEm had filed for bankruptcy.
EyeEm was acquired in mid-2021 by Switzerland’s Talenthouse for an undisclosed amount, with Talenthouse co-founder Roman Scharf later revealing that EyeEm founders netted “roughly $40 million”.
According to a statement issued earlier today by Freepik representatives, as part of the acquisition, the Malaga, Spain-based company will pay off all outstanding debts to EyeEm’s 140,000 contributors and effectively revive the platform from the shallows.
With Freepik being no stranger to acquisitions, the EyeEm purchase marks the company’s fourth, having previously snapped up the UK’s Videvo, Denmark’s Iconfinder, and Colombia’s Original Mockups.
On the acquisition, Freepik co-founder and CEO Joaquin Cuenca Abela shared:
“With EyeEm’s acquisition, Freepik is strengthening its offering in the photography market, where there’s a growing need for diverse imagery that’s truly authentic. By investing in EyeEm, we will be supporting its brilliant network of contributors and, more broadly, reinforcing the value of photography.
"From here, we can pave the road to recovery and make the business sustainable. It’s an exciting time and we’re very much looking forward to working together.”
Lead image via Freepik.