Freepik: A Transformative Journey from Image Bank to Adobe Rival
Tomorrow, November 20, the Xataka NordVPN 2025 Awards will honor the most significant devices and technologies of the year. For the first time, the special Xataka Award will recognize the best Spanish technology company, and the winner is Freepik, a company that has transitioned from a simple image bank to a formidable competitor against industry giants like Adobe and Figma. The company’s Chief Product Officer, Omar Pera, will attend the gala to accept this prestigious recognition.
The Evolution: DALL-E 2 as a Catalyst
Founded in 2010 in Malaga, Freepik began as a straightforward search engine for royalty-free images. Its CEO, Joaquín Cuenca, started the company to overcome challenges in finding suitable graphics while developing websites. The game changed dramatically with the release of DALL-E 2 in 2022, shocking Cuenca and prompting him to reevaluate Freepik’s trajectory. His initial response—“This makes what we are doing obsolete”—soon shifted to acceptance of the transformative potential of generative AI.
As Cuenca noted, the industry wasn’t debating whether AI would be transformative but rather how companies should adapt to this new reality. Freepik shifted from a marketplace of static content to pioneering tools for video generation and editing, experiencing a surge in AI-related activities among its users. A staggering 50% of new subscribers now engage with AI tools upon joining, a dramatic increase from previous numbers. Today, Freepik attracts over 150 million monthly users with an extensive suite of tools, including Freepik, Flaticon, Slidesgo, Wepik, and Magnific AI, resulting in over 800,000 paid subscriptions.
Building a Legally Secure Future
Freepik’s innovation does not just reside in expanding its offerings; it has also invested in a proprietary technology, F Lite. This generative AI model is exclusively trained on 80 million of Freepik’s own commercially licensed images, strategically positioned to avoid the legal complications faced by competitors like Midjourney and OpenAI. This unique approach provides a solid competitive edge in an increasingly crowded field.
Additionally, Freepik made headlines in 2024 by acquiring the startup Magnific, which quickly gained popularity for its ability to enhance image resolution without sacrificing quality. Cuenca respects competitors but believes that Freepik excels in efficiently adhering to user prompts, setting it apart from artistic models like Midjourney.
Shifting the Competitive Landscape
The company aims to consolidate its tools into an all-in-one platform that eliminates the need for disparate applications. By integrating features like Google Veo 3 for video generation and comprehensive editing options, Freepik is determined to align AI capabilities with user needs. As Cuenca explains, “AI is very well aligned with what we want to do, helping us expand the catalog of solutions for our users.” The competitive landscape is evolving; Freepik is not just up against image banks like Getty and Shutterstock, but rather industry leaders like Adobe.
Democratizing Creativity from Malaga
Freepik’s vision extends beyond mere functionality; it seeks to democratize visual content creation, enabling businesses—from small startups to larger enterprises—to produce compelling material without hefty investments or specialized skills. Operating from Malaga, Freepik maintains its core identity while expanding its global presence, emphasizing that its success is not limited by geography but rather by the creativity and ideas of its people.
In just two years, Freepik has transformed from a content distributor to a versatile creator with a subscription model pivotal for many creative professionals. This evolution makes Freepik a deserving recipient of the first Xataka Award for the best Spanish technology company, highlighting its remarkable journey in the generative AI landscape. As the company continues to innovate, it stands as a testament to the potential of Spanish technology on a global scale.
Featured image | Xataka