Freepik is a Spanish company dedicated to offer the best quality and the highest content in illustrations, photos and icons, mockups and templates for presentations. It was founded by two brothers from Malaga, Alejandro and Pablo, together with Joaquín Cuenca, founder of Panoramio, in 2010. It is currently one of the startups European companies with the highest growth in the sector, with a turnover of around 30 million euros in 2019.
For this reason, the Swedish investment fund EQT's investment has taken an interest in it, and has bought a majority stake in the Spanish company. This fund was already known in Spain for its takeover of another Spanish company, Parques Reunidosa Spanish group that manages 61 parks in the leisure sector in 14 countries around the world.
DETAILS OF THE OPERATION
Although the exact amount of the transaction is not known, according to some market sources, the amount is valued at between 200 and 250 million euros. This figure crowns the operation as one of the most important exits, The largest in the sector in the Spanish market.
On the other hand, they estimate that the closing of the operation will take place this June 2020, having the necessary approvals.
The operation involved companies such as Allen & Overy, Freshfields, BCG, KPMG and LionTreeby EQT. And as far as Freepik is concerned, Drake Star Partners, Deloitte y Callol, Coca & Asociados actuaron como asesores.
FREEPIK AS STARTUP BENCHMARK IN SPAIN
As already mentioned, Freepik has shown a very positive trend in recent years. Currently, it has 18 million unique monthly users, 50 million visits per month, 100 million downloads and finally, it allows the use of 4.5 million graphic resources.
Looking at these figures, many companies have been interested in investing in Freepik. From industrial companies to investment funds. But it was not until this year that a proposal was accepted, in this case from EQT.
Finally, I would like to stress the importance of this company in the global sector and in the Spanish market, and what a magnificent reference and example it is for other companies. startups that are just starting out. Last but not least, I would like to mention some of the big name companies that use Freepik in their day-to-day work; Microsoft, Amazon, Spotify, FedEx and even the Nasaamong others.
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