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123RF

Stock photography agency founded in 2005 From Wikipedia, the free encyclopedia

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In 2000, 123RF founder Andy Sitt left his job at a British company that sold stock images in CDs while showing customers printed catalogs. Andy launched his e-commerce business by setting up Inmagine, selling premium large-format photo prints. Working together with co-founder and current CEO Stephanie Sitt,[1]

In 2005, Inmagine set up 123RF, which offers royalty-free stock images, videos, and audio clips. Unlike the previous business model, 123RF allows photographers around the world to sell their work on the platform under a crowdsourcing model.[2]

In 2011, Inmagine established a global presence with 44 regional offices worldwide.[3] Offices were founded in North and Latin America, Europe, Asia, Africa, the Middle East, and Australasia.[4]

In 2019, Inmagine consolidated and streamlined its offerings into three main products: 123RF, Pixlr, and Designs.ai. The launching of Pixlr Market (now Stock by Pixlr) and Pixlr Editor commences.[5]

In 2020, the company launched its first artificial intelligence platform, Inmagine Brain.[6] In November 2020, the company confirmed that it had been subject to a data breach, with 8.3 million customer records available for sale on the dark web.[7]

Through 123RF, Inmagine created a visual guide in 2021 to predict image search trends.[8]

In June 2022, the company launched its free images section where audiences can download images for free, but with only a limited amount of daily downloads.[9]

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Acquisitions

In March 2017, 123RF acquired TheHungryJPEG, a UK-registered font and graphics marketplace and its sister company Craftbundles for an undisclosed sum.[10][11]

In April 2017, 123RF acquired Pixlr, an online web-based image editor from Autodesk for an undisclosed sum.[12]

In November 2017, 123RF acquired Vectr, a web-based vector editor and Story & Heart, a video education platform.[13]

References

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