Canva's Big AI Move: Acquiring Leonardo.ai to Boost Generative Design Capabilities

Canva Acquires Leonardo.ai to Supercharge its AI Design Arsenal

Canva, the popular design platform, has acquired Leonardo.ai, a generative AI startup specializing in art creation and research. This acquisition highlights Canva's commitment to integrating advanced AI capabilities into its platform.

Leonardo.ai's Strengths:

• User-Friendly Interface: Leonardo.ai offers intuitive tools, including a Live Canvas feature that allows users to sketch their ideas and have them transformed into photorealistic images in real time.
• Advanced AI Models: The startup boasts powerful generative AI models, such as Phoenix, which can create a wide range of visuals.
• Customization & Control: Leonardo.ai empowers users with a high level of control over the AI-generated content, setting it apart from other generative art platforms.
• Scalability: Leonardo.ai has achieved impressive user growth, boasting over 19 million registered users and over a billion images created.

Canva's AI Ambitions:

• Magic Studio Enhancement: The acquisition will help integrate Leonardo.ai's technology into Canva's Magic Studio generative AI suite, leading to more powerful design tools.
• Expanding AI Capabilities: Canva aims to introduce new generative AI features directly within its platform, leveraging Leonardo.ai's models.
• Future of Design: Canva sees AI as a key component in the future of design, empowering users to create visually stunning content with greater ease.

Canva's Commitment to AI:

This acquisition follows Canva's previous investments in generative AI, including the Magic Write copywriting assistant and the background removal service from its previous acquisition of Kaleido. Canva is actively pursuing an AI-powered workflow, aiming to deliver a comprehensive and innovative design experience.