Australia-based Canva is expanding its capabilities in generative artificial intelligence with the acquisition of Leonardo.AI, strengthening its visual content creation toolkit.
Canva Strategic Acquisition
Deal Details
Australian digital design giant Canva has taken a major step in developing its AI capabilities by acquiring domestic startup Leonardo.AI. This company specializes in the development of artificial intelligence technologies for creating visual content. This was reported on the official Canva blog.
The financial terms of the deal remain confidential. However, as TechCrunch notes , Canva co-founder and chief product officer Cameron Adams revealed that the payment was a combination of cash and stock. It is worth noting that Leonardo.AI recently attracted an investment of $31 million, which was reported by the Australian edition of Forbes.
Leonardo.AI Achievements
“In an extremely short period of time, the Leonardo team has demonstrated impressive innovation and expertise in the field of creating photos, graphics and videos with the help of AI. Today, just two years after launch, their products are used by more than 19 million people," the Canva blog emphasizes.
Future plans
- All 120 Leonardo employees. AI will become part of the Canva team. They will retain their autonomy, focusing on model research and product development using the financial support and licensed data of the Canva Creators program.
- Canva emphasizes that their users' content will not be automatically transmitted to Leonardo.AI without their express consent.
- The company plans to integrate Leonardo.AI technologies, including their basic Phoenix model, into its Magic Studio toolset, including Magic Media image and video generators.
Canva has been investing in the development of artificial intelligence technologies for a long time. Most recently, in March of this year, the company acquired online design platform Affinity for $380 million, challenging Adobe. Since 2019, Canva has also added companies such as Flourish, Kaleido, SmartMockups, Pexels, Pixabay and SlidesCarnival to its portfolio.
Glossary
- Canva is an Australian technology company specializing in graphic design and content publishing.
- Leonardo.AI is an Australian startup developing AI technologies for creating visual content.
- Adobe is an American multinational company that develops software for creativity and digital marketing.
- Magic Studio - Canva's set of AI-powered content creation tools.
- Phoenix is a basic AI model developed by Leonardo.AI.
Link
- https://www.canva.com/newsroom/news/leonardo-ai/
- https:// techcrunch.com/2024/07/29/canva-acquires-leonardo-ai-to-boost-its-generative-ai-efforts/
- https://www.forbes.com.au/news/innovation/gen-ai-leonardo-ai-47-million-raise/
Answers to questions
What company did you buy Canva and for what purpose?
What is known about the terms of the agreement between Canva and Leonardo AI?
What changes does the Leonardo AI team expect after the takeover?
How does Canva plan to use Leonardo AI technologies?
What other companies have Canva acquired recently?
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Discussion of the topic – Canva makes strategic acquisition of Leonardo AI to revolutionize generative AI
Australian company Canva has acquired Leonardo AI, a startup specializing in visual AI content, with the aim of strengthening its position in the field of generative artificial intelligence.
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Oleksandr
Wow, Canva is not kidding! The acquisition of Leonardo AI is a major step into the world of generative AI. I wonder how this will affect their design tools? 🤔
Sophie
Yes, Oleksandr! I can already imagine how this could improve Magic Media. Maybe now it will be even easier to create unique images and videos? 🎨🎥
Giovanni
I'm more interested in how this will affect the competition with Adobe. Canva is clearly trying to become a full-fledged alternative. Sophie, do you think they can catch up with Adobe in terms of functionality?
Sophie
Giovanni, I think it's real! Especially considering that they also bought Affinity. Canva keeps getting more powerful. But Adobe is also not standing still, so the competition will be tough 💪
Henryk
Phew, another fashion trend. Why is that AI in the design at all? In the past, people did just fine without these technologies. All this only complicates life 😒
Maria
Henryk, I understand your skepticism, but AI can greatly speed up the workflow. Imagine how much time you can save on routine tasks! And spend the freed time on creativity 😊
Pierre
I agree with Maria! Plus, Canva makes design more accessible to everyone. And with AI it will become even easier. Isn't it great that more people can bring their ideas to life? 🌟
Oleksandr
Exactly! And one more point - Canva mentions the integration of the basic Phoenix model. I wonder what new opportunities this will open up? Maybe someone knows more about this model? 🧐