Magnific (formerly Freepik) is an AI-powered creative platform that provides professional tools for generating and enhancing images, videos, and audio. The platform allows creators and enterprises to use multiple top-tier AI models in one place. Pulse 2.0 interviewed Magnific co-founder and CEO Joaquin Cuenca Abela to learn more.
Joaquin Cuenca Abela’s Background
Could you tell me more about your background? Cuenca said:
“My background is in technology and entrepreneurship. Before co-founding Freepik—now Magnific—I co-founded Panoramio, a geo-photography community that let people upload location-based photos and explore the world through other people’s lenses. Google acquired Panoramio, and it became part of Google Maps and Google Earth. Later, I co-founded Freepik in Málaga in 2010 with Alejandro and Pablo Blanes. Over time, we grew it from a graphic-resources search engine into what is now Magnific: an AI-first creative platform.”
Formation Of The Company
How did the idea for the company come together? Cuenca shared:
“Magnific started from a simple insight: designers and creators needed an easier way to find high-quality visual resources. Over time, that mission evolved. As AI changed what was possible, we realized the future was not just helping people find content, but helping them create it. The core belief stayed the same: the person with the idea matters most, and we should remove everything we can that stands between that idea and execution.”
Favorite Memory
What has been your favorite memory working for the company so far? Cuenca reflected:
“One of my favorite moments has been watching creators use our tools to make work that simply would not have existed otherwise. Seeing someone turn a story in their head into a film, a campaign, or even a comic for their kids is incredibly powerful. I’ve said before that in the near future, some films will be made like we write books: one person with a vision and the tools to execute it. That is becoming real very soon.”
Core Products
What are the company’s core products and features? Cuenca explained:
“Magnific is a full AI creative platform covering image, video, audio, 3D, upscaling, collaboration, workflow automation, and a library of more than 250 million creative assets. Teams can run an entire production end to end without leaving the platform: generating images and video, adding voiceovers and sound, building 3D scenes, collaborating in Spaces, and upscaling to 4K. For companies, there’s enterprise administration, reporting, an Academy for training, and legal indemnity for companies.”
Challenges Faced
Have you faced any challenges in your sector of work recently and how did you overcome those challenges? Cuenca acknowledged:
“The biggest challenge was existential: generative AI threatened the very foundation of the stock-content business. We could have defended the old model, but instead we moved toward the disruption. We integrated AI early, rebuilt the product around creation, and shifted from being a place where people downloaded assets to a place where they generate, refine, collaborate, and build workflows.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Cuenca noted:
“We began as a search engine for graphic resources, then expanded into stock images, video, and creative assets. Now we are an AI-native creative infrastructure platform. The biggest change is that users are no longer just downloading content; they are generating images and videos, upscaling, building repeatable workflows, collaborating in real time, and connecting multiple models in one production environment.”
Significant Milestones
What have been some of the company’s most significant milestones? Cuenca cited:
“A few stand out: founding Freepik/Magnific in Málaga in 2010; starting our transformation to an AI creative platform in 2022; launching our enterprise edition for filmmakers and marketers in 2025; reaching $230 million in ARR and tripling AI ARR year over year in 2026; serving more than 250 enterprise clients; being named by Andreessen Horowitz as the top generative AI web company in Europe by users; and rebranding Freepik as Magnific in 2026.”
Customer Success Stories
Can you share any specific customer success stories? Cuenca highlighted:
“We’ve seen Magnific used across film, advertising, and brand work. Examples include Puma x Manchester City, Alain Afflelou, House of David on Amazon Prime Video, Carl’s Jr. with Paris Hilton, and independent creators like Kavan the Kid and The Chronicles of Bone. At a recent Magnific event in London, filmmaker Ikenna Mokwe shared that two AI-assisted films helped bring in more than £100,000 in new business in four months as a solo creator.”
Funding/Revenue
Are you able to discuss funding and/or revenue metrics? Cuenca revealed:
“Magnific has surpassed $230 million in annual recurring revenue, with AI ARR tripling year over year. We have more than 1 million paid subscribers and more than 250 enterprise clients. We achieved this without a single round of U.S. venture capital funding.”
Total Addressable Market (TAM)
What total addressable market size is the company pursuing? Cuenca assessed:
“We see the TAM as the entire creative-production economy: advertising, design, film, media, gaming, social content, e-commerce, enterprise marketing, and individual creators. Our view is that this market is not fixed; AI expands it. As production costs fall, many more people and companies can create professional-grade content, which means the creative economy can grow by orders of magnitude.”
Differentiation From The Competition
What differentiates the company from its competition? Cuenca affirmed:
“Most AI creative companies are point solutions: an image tool, a video tool, an upscaler, or a workflow tool. Magnific brings the full creative stack into one platform: models, assets, upscaling, video, audio, 3D, collaboration, workflows, enterprise controls, and education. We’re not trying to be just a model; we’re building the whole ecosystem so creative teams can actually use AI in production.”
Future Company Goals
What are some of the company’s future goals? Cuenca emphasized:
“Our goal is to lead the no-collar economy: the emerging creative economy where the most important skill is not access to a studio or a budget, but having something meaningful to say. We want Magnific to become the professional platform where individuals, teams, and enterprises can move from idea to execution with fewer barriers and more creative control.”
Additional Thoughts
Any other topics you would like to discuss? Cuenca concluded:
“I’d emphasize that AI is not the end of creativity. It is the expansion of creativity. The machine can handle more execution, but it cannot supply taste, lived experience, intention, or point of view. In a world where anyone can create, what matters most is what you choose to make and why it matters. That is where human value moves next.”
