Canva makes largest acquisition to date in an attempt to challenge Adobe
By MYBRANDBOOK
Canva made its largest acquisition to date, acquiring the Affinity suite of creative tools, which is well-liked by Mac users, in an attempt to take on Adobe. The purchase is worth "several hundred million pounds. It consists of a combination of cash and stock. With a recent share sale valued at $26 billion, it is the largest investment made by Australia's most valuable startup to date and represents a significant advancement in the company's efforts to broaden its product offering.
Joining Canva is the entire 90-person team of Nottingham, UK-based Serif, the startup responsible for Affinity's portfolio of photo-editing, publishing and illustration software. Affinity's apps have been featured in Apple Inc.'s presentations of creative products and are the "final piece in our jigsaw," Canva Co-founder and Chief Operating Officer Cliff Obrecht said. They will now be used to complement Canva's selection of artificial intelligence-powered tools as the Australian firm bolsters its offering of online workspaces.
Canva has grown into the most capable competitor to Adobe, the longtime dominant provider of software for graphics professionals. Adobe has added AI features throughout its products recently, but its shares have fallen more than 15% this year after a $20 billion deal to acquire Figma fell through in December.
The startup, which has focused on making easy-to-use products targeted at people without formal design training, surpassed $2.1 billion in annualized revenue and has over 175 million users. It added over 90 million new users over the past 18 months, helped by new AI features.
BREAKING NEWS
TECHNO TRENDS
Parliamentary panel pulls up IT ministry for underutilizing se
A parliamentary panel on Communications and IT has pulled up the MeitY fo...
GST Council likely to reduce tax on food delivery to 5%
The Goods and Services Tax (GST) Council is reportedly considering a prop...
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
E-Magazine
TECHNOTAINMENT
Pushpa 2 leaks online after recording highest pre-sales in Ind
Pushpa 2, which is one of the most anticipated films of the year, has had a
Eloelo teams up with Elvish Yadav for India's biggest digital
Eloelo, India’s leading platform for live entertainment and creator-drive
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
NETWEB TECHNOLOGIES INDIA LTD.
HP INDIA SALES PVT. LTD.
BPE INDIA PVT. LTD.
VEHERE INTERACTIVE PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : RITESH AGARWAL
Ritesh Agarwal is an Indian billionaire entrepreneur and the founder a...
Icons Of India : Dr. Arvind Gupta
Arvind Gupta is the Head and Co-Founder of the Digital India Foundatio...
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
PARTNER SPEAKERS
PSU
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
IREDA - Indian Renewable Energy Development Agency Limited
IREDA is a specialized financial institution in India that facilitates...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - JAYASHREE ULLAL, President and CEO - Arista Network
Jayshree V. Ullal is a British-American billionaire businesswoman, ser...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
