Magnific

Magnific, formerly Freepik, operates an AI creative platform that combines generative image, video, and audio tools with a stock library of more than 250 million assets. The company was founded in Málaga, Spain, in 2010 by Joaquín Cuenca Abela and brothers Alejandro Sánchez Blanes and Pablo Blanes, and remains headquartered there with an additional office in San Francisco. It operates under the legal entity Freepik Company S.L.U. and rebranded from Freepik to Magnific on April 28, 2026, adopting the name of the AI image-upscaling startup it acquired in May 2024.

The platform unifies AI image and video generation, upscaling and enhancement, a collaborative workspace, 3D scene tools, and the company's long-standing asset properties, including Flaticon and Slidesgo. At the time of the rebrand the company reported $230 million in annualized recurring revenue, roughly half from AI video generation, with more than one million paying subscribers and over 250 enterprise customers including BBC, Puma, and Amazon Prime Video. In 2025 it released F Lite, an open-weights image model trained on licensed data and developed with Fal.ai, and launched an enterprise tier.

The company grew without venture capital and was profitable when private equity firm EQT acquired a majority stake (reported at 52.9%) through its Mid Market Europe fund in May 2020, in a deal valuing the business at over 200 million euros; Atwater Capital took a minority position later that year. Acquisitions include Videvo (2022), Iconfinder and Original Mockups (2022), EyeEm (2023), and Magnific (2024). The company employed roughly 1,400 people as of mid-2026.