Canva’s Acquisition of Leonardo AI Will Enhance Creative Tools in 2024

Design powerhouse Canva revealed today its purchase of Leonardo AI, a strategic move that marks a significant expansion in its range of creative tools for the future. 

The acquisition aims to integrate Leonardo AI's advanced artificial intelligence technologies into Canva's all-in-one design platform, promising tools that are more intuitive and potent than ever.

Leonardo AI Brings State-of-the-Art Generative AI Resources to Canva

Leonardo AI, an innovative Australian startup specializing in generative AI, is renowned for its cutting-edge AI-driven image editing and enhancement technologies. These include an AI art generator, an AI video generator, a business collaboration solution, and a developer API for extending its foundational models. Since its inception in 2022, Leonardo AI has amassed over 19 million users and generated more than a billion images.

Leonardo AI is now poised to enrich Canva's Magic Studio, the platform’s AI editing suite, with enhanced photo editing capabilities, intelligent design suggestions, and automation features tailored to streamline the creative process for users of all skill levels.

While all of Leonardo AI’s employees will join the Canva team, the company will continue to operate independently, serving individual and business customers as usual. Its parent company will support further research and development of foundational models and other advancements.

Canva’s Plan to Grow Its Generative AI Business

The acquisition aligns with Canva's rapid growth and expansion into new markets, particularly in generative AI, reinforcing its position as a leader in digital design. 

This marks Canva's eighth acquisition and its second this year, following the recent purchase of Affinity. It also represents Canva's second acquisition in the AI sector, following its acquisition of Kaleido in early 2021, which currently powers several features within Canva Magic Studio.

With Leonardo AI’s technology seamlessly integrated into Canva's platform, users can anticipate a cohesive experience that combines robust AI capabilities with Canva's user-friendly interface.

As Canva continues to innovate, the acquisition of Leonardo AI signals a promising future for designers, marketers, and creatives seeking to enhance their visual storytelling in 2024 and beyond.

THE AUTHOR

Ivanna Attie

All About Ivanna

I am an experienced author with expertise in digital communication, stock media, design, and creative tools. I have closely followed and reported on AI developments in this field since its early days. I have gained valuable industry insight through my work with leading digital media professionals since 2014.

• NETWORKING