Canva Acquires Leonardo.AI to Enhance Generative AI Capabilities
The acquisition aims to integrate Leonardo.AI's advanced models into Canva's Magic Studio, bolstering its competitive edge in visual content creation.
Overview
- Leonardo.AI's Phoenix model will be integrated into Canva's suite of AI tools, enhancing image and video generation capabilities.
- The acquisition brings Leonardo.AI's 120-member team under Canva, including designers, researchers, and developers.
- Leonardo.AI will continue to operate independently but will benefit from Canva's financial and technical resources.
- Founded in 2022, Leonardo.AI has amassed over 19 million users and generated over a billion images.
- This marks Canva's eighth acquisition, further solidifying its position in the visual content creation market.