Freepik Company Enters The Video And Audio Categories With The Acquisition Of UK-based Videvo
Videvo is a UK-based company that offers +500k freemium videos, audio clips and motion graphics that currently has over 650K users mainly from USA, Canada, Australia and the UK, and observed +40% increase in their turnover in the last two years
The tech company and parent brand of world leading providers of freemium illustrations (Freepik), icons (Flaticon), presentation templates (Slidesgo) and an online editor (Wepik) – has just acquired UK-based tech company Videvo, entering as a strong competitor in the stock video and audio categories.
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This strategic acquisition will provide Freepik Company’s users over 500K video assets, audio clips and motion graphics resources that will help creators from around the world to develop their personal and/or professional projects using a unique source of content.
Videvo, based in Oxford since 2012 and founded by Tom Limb, currently has +650K active users from around the world, mainly from USA, Canada, UK and Australia, and is one of the most valued stock video websites thanks to the high quality of their resources. In the past years, Videvo introduced a subscription plan which supported the company’s growth of more than 100% within the last two years.
According to Carlos Marín, Chief Strategy Officer of Freepik Company: “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”.
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For Tom Limb, founder and CEO of Videvo: “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”.
Finally, Joaquín Cuenca, co-founder and CEO of Freepik Company, adds that: “Freepik Company is the only European contender in the competitive tech and content distribution industry, our products are leaders in illustrations, icons and presentations, and now, with Videvo’s acquisition, we add a world class collection of videos and sound effects to our portfolio”.
Videvo is from now on the official brand for Freepik Company’s stock video and audio product, which will be led by Tom Limb, and currently adds eight employees, based in the UK, to the +450 team.
Freepik Company is a Spanish tech company that specializes in producing and distributing graphic resources.
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