Popular online graphic design platform Canva has announced the acquisition of Leonardo.ai. Both of them are Australian-based companies. Canva announced the acquisition in a News blog recently published on the official page. Canva wrote in the news blog, ‘’Welcome to Canva, Leonardo.ai. It is a research and generative AI startup working in the visual industry.
Canva was launched in 2013, and ever since the company has had huge success. It is one of the best online design platforms to empower everyone to design. Whereas, Leonardo.ai was recently started. It has 120 researchers, engineers, and designers.
Canva did not disclose the financial terms of the acquisition. Whereas, it talks about the growth of AI in visuals and how this acquisition will add more value to generative AI design.
Meanwhile, it is also mentioned that Leonardo.ai will continue web development for its users. However, it will be added to the Canva Creators program.
With the addition of Leonardo, Canva will continue its mission to lead innovation in the evolving design and visual AI ecosystem. Canva added in the post,
’’ The Leonardo team has already established an impressive track record of innovation and excellence in AI-generated photos, graphics, and videos, with over 19 million users in just two years since launch.’’
This acquisition aims to supercharge Leonardo’s platform and user growth while rapidly integrating Leonardo’s leading technology and their Phoenix foundational model into Canvas Magic Studio products, such as the AI image and video generator, Magic Media. Canva and Leonardo will invest deeply in foundational model research and development, focusing on supporting Leonardo’s B2B adoption.
Leonardo is popular for highly realistic photos. It generates high-quality videos for the users. Meanwhile, Leonardo will continue to work independently. Hopefully, this acquisition will bring more creative ways for the users.
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