#Asia Malaysian stock photo startup 123RF acquires TheHungry.JPEG to grow design resources globally

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123RF.com claims to be the 4th largest stock image business in the world

Malaysia-based stock photo platform 123RF has acquired UK-based graphic design portal TheHungryJPEG for a cash sum in the 7-digit US valuation, said an official press release.

Warren Leow, Vice President of Strategic Partnerships &  Revenue of Inmagine Group (the umbrella group that owns 123RF) said that the acquisition will leverage significant cross-selling opportunities across both companies’ assets, and expand their value to clients to cover more creative assets, fonts and graphic bundles.

Together, the companies will also increase their understanding on what sells well amongst designers and strengthen their creative ecosystem strategy.

123RF claims to be the 4th largest stock image business in the world. Earlier this year, it received capital injection through venture debt from InnoVen Capital.

Also Read: Picture perfect: Raydar unveils first-of-its-kind stock photo search portal with e-commerce checkout

Inmagine Group owns other creative assets including inmagine.com, stockunlimited.com, and designs.net.  Collectively, they provide over 70 million stock content including photos, videos, audios, vectors and design templates. Its platforms log over 18 million visitors per month.

Additionally, the group, which is run by over 450 employees across 40 offices globally, said it is moving towards an IPO.

TheHungryJPEG claims to be among the top five marketplaces for fonts, graphics and creative bundles with more than 50,000 products and 300,000 users. Its core market is the female-centric, design community based in the US.

Image Credit: 123RF

 

 

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