Feemium content photo agency Freepik has announced the acquisition of Videvo a UK-based company that offers +500k freemium videos, audio clips and motion graphics. This acquistion will see Freepik enter the stock video and audio market.
• Videvo, based in Oxford since 2012 and founded by Tom Limb, currently has over 650K users mainly from USA, Canada, Australia and the UK and has seen a 40% increase in their turnover in the last two years.
Tom Limb said: “Becoming part of Freepik Company is an exciting adventure for us, we have achieved important milestones and positive results in these ten years and now is the time to strengthen our position in the stock video market with the support and reach of the strongest player in the industry”.
Carlos Marín, Chief Strategy Officer of Freepik Company told PAN “This acquisition is a key step towards our ambition of becoming leaders in the video segment. Freepik Company’s products are present in 99% of the countries worldwide and we already lead the freemium markets in which Freepik, Flaticon and Slidesgo are present. We intend to do the same with Videvo in the stock video category and, thanks to the integration with Freepik Company, we expect to more than double Videvo’s revenue in the upcoming years. We are thrilled to have the whole Videvo team joining us and pushing towards our shared vision”.
Related on PAN: Nov 2021 – Freepik confirms 500,000 subscribers – adds 200 new employees since 2020