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.

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.