Freepik Magnific: everything we know so far

Freepik is rebranding itself as Magnific, as cofounder and CEO Joaquín Cuenca Abela rebuilds the company for an AI future. Freepik Magnific has emerged this Friday as one of the stories drawing attention in Bangladesh.

Key facts

• Freepik is rebranding itself as Magnific, as cofounder and CEO Joaquín Cuenca Abela rebuilds the company for an AI future.
• Freepik rebrands as Magnific, unifying its AI tools into a single creative platform with growing enterprise use and over one.
• A decade and a half after its quiet start as a search engine for graphic resources, Freepik has reintroduced itself under a new name, Magnific, marking a turning point in how the company sees its role in the creative industry.
• /PRNewswire/ -- Today, Freepik becomes Magnific, solidifying its stance as the world's most comprehensive AI creative platform and introducing a new framework...
• SAN FRANCISCO, April 28, 2026 /PRNewswire/ -- Today, Freepik becomes Magnific, solidifying its stance as the world's most comprehensive AI creative platform and introducing a new framework for how creative work is produced in the AI era.

What we know

Going deeper, Freepik rebrands as Magnific, unifying its AI tools into a single creative platform with growing enterprise use and over one.

On the substance, a decade and a half after its quiet start as a search engine for graphic resources, Freepik has reintroduced itself under a new name, Magnific, marking a turning point in how the company sees its role in the creative industry.

Beyond the headlines, /PRNewswire/ -- Today, Freepik becomes Magnific, solidifying its stance as the world's most comprehensive AI creative platform and introducing a new framework...

More precisely, SAN FRANCISCO, April 28, 2026 /PRNewswire/ -- Today, Freepik becomes Magnific, solidifying its stance as the world's most comprehensive AI creative platform and introducing a new framework for how creative work is produced in the AI era.

It is worth noting that the platform's strong hold on the creative industry was reinforced by A16z's naming Freepik (now Magnific) as the 11th top genAI web company.

By the numbers

At this stage, Back in 2010, a few years after selling his startup to Google, Cuenca cofounded a company called Freepik in Málaga—the sun-drenched birthplace of Pablo Picasso on Spain’s southeastern coast.

On a related note, the company currently has 400 employees, down from roughly 550 when it was focused on stock images. “There’s going to be some pain in any transformation,” Cuenca says, but notes the company is hiring employees with different skills now and that the intention is to ultimately get bigger than Freepik was at its peak.

Going deeper, Magnific’s origins remain tied to Málaga, where it was built and later acquired in 2024.

On the substance, Magnific launches with $230 million in annual recurring revenue (ARR) and adoption across more than 290 enterprise teams, including Guess, DAMM, R/GA, Alain Afflelou, and BBC, which are already running professional creative workflows on the platform.

What they're saying

“We are creating a new economy,” says Cuenca, who is the CEO. “It’s not that we are getting users from any particular competitor, it’s that people are finding that they can do a new thing that was not possible before.”

The wider context

On a related note, And given that its business has changed so much from its initial days as a stock imaging platform, the company is changing its name from Freepik to Magnific.

Going deeper, Throughout the journey from Freepik to Magnific, Cuenca says the company has been bootstrapped the entire time.

On the substance, Guess, DAMM, R/GA and BBC use Magnific to redefine how creative work gets produced.

Beyond the headlines, Across film studios, agencies, and global brands, more than 290 teams now run production workflows on Magnific, from generating assets and prototyping visuals to scaling content across campaigns.

More precisely, Greetings, Tech Editor Alexei Oreskovic guest-writing your Term Sheet today.

The bottom line

• A decade and a half after its quiet start as a search engine for graphic resources, Freepik has reintroduced itself under a new name, Magnific, marking a turning point in how the company sees its role in the creative industry.
• The platform's strong hold on the creative industry was reinforced by A16z's naming Freepik (now Magnific) as the 11th top genAI web company.
• The company currently has 400 employees, down from roughly 550 when it was focused on stock images. “There’s going to be some pain in any transformation,” Cuenca says, but notes the company is hiring employees with different skills now and that the intention is to ultimately get bigger than Freepik was at its peak.