Design platform Freepik today announced its acquisition of Magnific, an AI image upscaler, enhancer and transformer tool.
The strategic acquisition is Freepik’s biggest to date - it acquired EyeEm (Germany) last year, and Videvo (UK), Original Mockups (Colombia), and Iconfinder (Denmark) in 2022.
With Magnific, it brings together dedicated AI pioneers, bolstering Freepik’s AI ambitions and reinforcing the company’s global expansion.
Launched just five months ago in Murcia, Spain, Magnific has opened up an entirely new category of tools: "reimagined upscaling." The company was built from the ground up with native AI and without a CEO.
Within the first 24 hours, over 30,000 people signed up to the waiting list. It now has over 725,000 registered users.
It is an upscaler and enhancer that drastically enhances the quality and resolution of images but also allows users to take control by creating new details.
Low-resolution images can be improved and developed creatively for professional use –- even billboards, video games, photo editing, architecture, interior design, matte painting and animated film production (Magnific has been used even by professional VFX for certain sequences in films currently in production).
The real-time enhancing capabilities are much faster than competitors — what used to take days to achieve in Adobe's Photoshop can now be done in seconds.
Commenting on the acquisition, Joaquín Cuenca Abela, CEO and co-founder at Freepik said:
“Not only will Magnific’s AI complement our suite of AI tools, but having Javi and Emilio’s experience and vision on the team will elevate our AI offering – this is central to the future of Freepik and our global expansion.”
Javi López, Co-founder of Magnific stated:
“Someone asked me a few weeks ago if we were open to an acquisition. I answered with a 'Yes, but... as long as it's with someone who shares our values and allows us to move to the top league even faster.”
That's the key: when you find another company, like Freepik, with whom you share values and mission, the next step of sharing resources to achieve great things becomes an obvious step to take.
At Magnific and Freepik, we share a clear vision: we want to help people express the power of their ideas. Now, we will work together to build this reality.”
Emilio Nicolás, Co-founder of Magnific added:
“From day one, we've been in talks with Joaquín, sharing our thoughts and visions for the future.
We've always had this special vibe going, and it’s even more special because we’re all from the Vega del Segura area in Spain! For us, Joaquín is a trailblazer, and what he has built at Freepik with his team is nothing short of amazing.
Gradually, we saw the potential for this merger between our projects, and there’s nothing more exciting than to join forces to shape the future of the industry. Together, we’re set to ride the wave of generative AI on an even stronger board, the Freepik + Magnific one!”
As part of the acquisition, Magnific's founders, Javi López and Emilio Nicolás, will continue to focus on their own AI innovation, testing and developing new ideas.
Although Magnific will operate as an independent business—a subsidiary of Freepik, its new parent company—both co-founders will join Freepik to work alongside Freepik’s AI innovation team.
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