Canva Acquires Leonardo.ai to Revolutionize Generative AI Efforts
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Canva, the popular design platform, has made a significant move in the world of generative AI by acquiring Leonardo.ai.
This acquisition aims to bolster Canva’s already robust AI technology stack and foster innovation in the realm of AI-generated content.
The Acquisition Details
Canva’s latest acquisition involves Leonardo.ai, a promising startup specializing in generative AI content and research. The deal, which includes a mix of cash and stock, brings all 120 employees of Leonardo.ai, including its executive team, under Canva’s umbrella.
Cameron Adams, Canva’s co-founder and chief product officer, assured that Leonardo.ai would continue to operate independently, focusing on rapid innovation, research, and development with Canva’s support.
Background of Leonardo.ai
Founded in 2022 in Sydney, Leonardo.ai initially targeted video game asset creation. Its founders, who met while working at a video game company, later expanded the platform to cater to various industries, including fashion, advertising, and architecture.
Leonardo.ai offers a range of collaboration tools, a private cloud for models, and APIs that enable customers to build their tech infrastructure on the platform.
Unique Features of Leonardo.ai
Leonardo.ai stands out in the generative AI art space due to the high degree of control it offers to users. The Live Canvas feature, for example, lets users enter a text prompt and make a quick sketch, resulting in a photorealistic image created in real-time.
The platform’s flagship model, Phoenix, is a key element, although details on its training methods remain unclear. This raises questions about the legal implications of using copyrighted content for model training.
Canva’s Generative AI Journey
Canva has been investing heavily in generative AI since late 2022, starting with the launch of Magic Write, a copywriting assistant. This acquisition is part of a broader strategy to enhance Canva’s AI capabilities and deliver more sophisticated tools to its users.
The $200 million commitment by Canva to compensate creators whose content is used for AI model training also highlights its supportive stance towards creators.
The Growth and Impact
With over 19 million registered users, Leonardo.ai has facilitated the creation of over a billion images. This massive user base and the innovative tools will significantly contribute to Canva’s own generative AI suite, Magic Studio.
Before the acquisition, Leonardo.ai raised over $38.8 million from various investors, including Smash Capital and Samsung Next.
Future of AI at Canva
Adams revealed plans to integrate Leonardo’s technology into Canva’s Magic Studio, potentially enhancing existing tools or introducing new generative AI features directly into Canva’s platform.
Canva, founded in 2012, has acquired multiple companies to strengthen its AI offerings, including Affinity, Zeetings, and Kaleido, the latter of which laid the foundation for Canva’s recent AI advancements.
The Vision Forward
Canva aims to combine its AI-powered workflow with new capabilities from Leonardo.ai, setting itself apart in the crowded AI market. This integration is expected to open up new possibilities for teams and enterprises using Canva.
Adams described the acquisition as a significant step in building a comprehensive visual AI offering, emphasizing the importance of generative solutions in Canva’s future growth.
Canva’s acquisition of Leonardo.ai marks a major milestone in its generative AI journey. With this move, Canva is set to revolutionize how users create and interact with AI-generated content, pushing the boundaries of innovation and creativity in the digital design space.
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