Summary
123RF, a branch of Inmagine Group, is a stock photos agency founded in 2005 which sells royalty-free images and stock photography. The company also has an expansive collection of vector graphics, icons, fonts, videos, and audio files.
 | |
| Company type | Privately held company |
|---|---|
| Industry | Stock photography, stock footage, stock music |
| Founded | 3 April 2005 |
| Founder | Andy Sitt, Stephanie Sitt |
| Fate | Active |
| Headquarters | Selangor, Malaysia |
Number of employees | 350 (2015) |
| Parent | Inmagine Group |
| Website | 123rf |
History edit
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] Inmagine Group is one of the few technology companies to have bootstrapped globally from Asia.[citation needed]
From the beginning, Inmagine produced proprietary content which required in-house photographers, graphic designers, professional models, makeup artists, and a sales team to cater to demand.[citation needed]
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]
Artificial Intelligence (AI): AI-Powered Tools edit
In 2023, 123RF launched its AI-powered Search for more precise and intuitive searching.[10] AI Image Variations, a feature that uses machine learning to generate multiple unique variations of a single image[11] and AI Image Generator,[12] a tool that generates custom images based on users' specific prompts.
Acquisitions edit
In March 2017, 123RF acquired TheHungryJPEG, a UK-registered font and graphics marketplace and its sister company Craftbundles for an undisclosed sum.[13][14]
In April 2017, 123RF acquired Pixlr, an online web-based image editor from Autodesk for an undisclosed sum.[15]
In November 2017, 123RF acquired Vectr, a web-based vector editor and Story & Heart, a video education platform.[16]
References edit
- ^ Tan, Tee May (11 October 2017). "5 Of The Most Common Startup Pain Points—Solved By This M'sian Startup Worth US$220 Mil". Vulcan Post. Retrieved 19 November 2017.
- ^ "How Malaysian husband and wife bootstrapped one of the world's top stock image players". Tech in Asia.
- ^ Administrator, Systems. "Inmagine – About". Inmagine. Retrieved 5 July 2022.
- ^ Administrator, Systems. "Inmagine – Contact". Inmagine. Retrieved 5 July 2022.
- ^ "This company makes content production easier with AI: Q&A with Designs.ai CEO Warren Leow". KrASIA. 17 November 2020. Retrieved 5 July 2022.
- ^ Editorial (1 May 2022). "Inmagine Evolved From A Digital Stock Photo Library To A Complete Creative Ecosystem Driven By Creativity, Technology, And Entrepreneurship". Tech Company News. Retrieved 5 July 2022.
- ^ "Popular stock photo service hit by data breach, 8.3M records for sale". BleepingComputer. Retrieved 16 November 2020.
- ^ "123RF's visual guide to image search trends and colours in 2021". www.marketing-interactive.com. Retrieved 5 July 2022.
- ^ "Free Stock Photos and Images – Download free images for free!". 123RF Stock Photos. Retrieved 5 July 2022.
- ^ "Going Big on AI, 123RF Launches Artificial Intelligence Powered Search and Image Generation Simultaneously". Market Watch. Retrieved 12 June 2023.
- ^ "Revolutionizing Visuals: 123RF Unveils AI-Driven Image Variation with One Click". Newswire. Retrieved 17 July 2023.
- ^ "123RF – AI Image Generator". 25 May 2023.
- ^ "Malaysian stock photo startup 123RF acquires TheHungry.JPEG to grow design resources globally". e27..
- ^ "123RF acquires design marketplace TheHungryJPEG". www.dealstreetasia.com. Retrieved 3 August 2017.
- ^ "123RF acquires Pixlr, looking towards securing 50M monthly active users". e27.
- ^ "Malaysia: Digital stock media firm Inmagine Group buys two US companies". www.dealstreetasia.com. Retrieved 19 November 2017.
External links edit
- Official website