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 Canva acquires Leonardo.ai: a step forward in generative AI

 Key points:
- Strategic acquisition: Canva has acquired Leonardo.ai, a Sydney-based generative AI startup.
- Integrated team: All 120 Leonardo.ai employees, including executives, will join Canva.
- Operational independence: Leonardo.ai will continue to operate independently, focusing on innovation and R&D.
- Expansion of capabilities: Leonardo.ai’s technology will be integrated into Canva’s Magic Studio suite.

Canva, the renowned graphic design platform, announced the acquisition of Leonardo.ai, a startup specializing in generative artificial intelligence based in Sydney. The move marks a significant strengthening of Canva’s technology division, solidifying its position in the AI field.

Leonardo.ai, founded in 2022, initially focused its efforts on creating video game assets. However, over time, the company has expanded its reach, developing AI solutions applicable in various fields such as fashion, advertising, and architecture. The startup has gained notoriety through its collaboration tools and private cloud for models, including video generators and access to APIs for creating custom technology infrastructure.

Cameron Adams, co-founder and chief product officer of Canva, told TechCrunch that the acquisition includes a combination of cash and stock. He also pointed out that Leonardo.ai will continue to operate independently, focusing on rapid innovation and research and development, now with the support of Canva’s resources. "This acquisition aims to further develop Leonardo’s platform and increase user growth," Adams said.

Leonardo.ai’s platform is distinguished by the amount of control offered to users. One of the most innovative features is Live Canvas, which allows users to create photorealistic images in real time by combining text prompts and sketches. This level of interactivity and precision has helped differentiate Leonardo.ai from other generative art platforms.

Despite the rapid growth, there are questions regarding the method of training Leonardo.ai’s models, such as the Phoenix model, and the legal implications regarding the use of copyrighted content. Leonardo.ai has stated that it uses licensed, synthetic, and open source data, but the question remains open.

The acquisition of Leonardo.ai is part of a broader strategy by Canva to enhance its generative AI capabilities. Since 2022, Canva has invested significantly in this area, including $200 million to pay creators to allow the use of their content to train artificial intelligence models. Leonardo.ai’s technology will be integrated into Canva’s Magic Studio suite, enhancing existing tools and introducing new capabilities.

With more than 19 million registered users and one billion images created, Leonardo.ai is a valuable asset to Canva, which has more than 180 million monthly users and nearly $2 billion in revenue. "This acquisition is a natural step in enhancing our visual artificial intelligence offerings," Adams concluded. "We are excited about the new possibilities that will open up for our users."