Online design marketplace TheHungryJPEG has been acquired by Inmagine Group, the global stock image and assets business that owns major digital platforms such as 123RF, Inmagine.com, Designs.net and StockUnlimited.
Founded in 2015, Cirencester-based TheHungryJPEG has grown to become one of the top five online design marketplaces in the world, with more than 50,000 products on offer and 300,000 active users.
Its acquisition by Inmagine Group comes as part of the Hong Kong-registered global brand’s overall strategy to build one of the top worldwide creative ecosystems. It already has 40 offices across the globe, and a stock content library of 72,000,000.
TheHungryJPEG will support the continued growth and accelerate entry into new and adjacent markets by providing a range of complementary and extended graphics services.
Inmagine Group said there were significant cross-selling opportunities, widening its value to clients with a new ability to cover fonts and graphics bundles while increasing their understanding on what sells well among designers
The two companies share similar roots given their 100% bootstrapped nature and focus on community-building.
Inmagine’s in-house production team of 200-plus employees will produce content to be marketed by TheHungryJPEG with the aim of expanding its library further.
In turn, the best practices and community-centric culture of TheHungryJPEG will be implemented across the rest of Inmagine’s assets.
InMagine Group vice president Warren Leow said: “It’s a win-win for both Inmagine Group and TheHungryJPEG as it leverages on our extensive global network and capability to serve clients who want to market their products and services to millions users around the world.”
Financial details of the acquisition have not been revealed.