Inmagine Group, the stock image and assets group that holds ownership of major digital platforms like 123RF, Inmagine.com, Designs.net and StockUnlimited, has announced the acquisition of TheHungryJPEG (THJ) for a sum that has not been made public yet. This latest move remains in line with Inmagine Group’s overall perceived strategy: nurturing one of the top creative ecosystems in the world.
The acquired company, UK-registered TheHungryJPEG.com, is a relatively young one, founded in 2015. Since its inception, it has grown to become one of the top five online design marketplaces the world over, with an offer range of more 50,000 products on, also boasting 300,000 active users.
It provides a host of complementary and extended graphics services, and will likely support Inmagine Group’s continued growth plans and speed up entry into new and adjacent markets. Both companies are, at their core, similar, since they are bootstrapped through and through in nature, and lay emphasis on community-building.
THJ was originally founded as a website to assist designers and crafters, whether they were newcomers, seasoned graphic design experts or amateurs, but was then converted into a full fledged community driven marketplace in July 2015.
Hong Kong registered Inmagine Group, on the other hand, was founded in 2000 as Inmagine.com, and today, has over 450 staff in 40 offices across the world. Despite being fully bootstrapped, it has quickly widened its reach with sites like 123RF.com, StockUnlimited.com and Designs.net. To date, 123RF boasts of the title of the world’s 4th largest stock image business.
With this acquisition, Inmagine Group can leverage significant cross-selling opportunities, widen its value, augment its clients to cover fonts and graphic bundles, while at the same time increasing their understanding on what sells well amongst designers.
Inmagine group’s in-house production team of over 200 employees plans to work directly on content to be marketed on THJ, to drive the goal of expanding its library even further. Also noteworthy, the best practices and community-centric culture of THJ will be implemented across the rest of Inmagine Group’s assets. Warren Leow, Vice President at Inmagine Group, said:
It’s a win-win for both Inmagine Group and THJ 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.