- Published on July 30, 2024
- In AI Features
Leonardo.Ai – Why Canva Acquired it?
Leonardo.Ai boasts over 19 million registered users and has facilitated the creation of more than a billion images.
Image by Nikhil Kumar
- By Mohit Pandey
In a strategic move to bolster its generative AI capabilities, Canva has acquired Leonardo.Ai, a startup renowned for its generative AI content and research. Canva co-founder and chief product officer Cameron Adams has said that all 120 employees of Leonardo.ai, including the executive team, will join Canva. The acquisition is said to be a mix of cash and stock.
Leonardo.Ai, co-founded by Jachin Bhasme, JJ Fiasson, and Chris Gillis in Sydney in 2022, initially focused on creating video game assets. Over time, the company expanded its platform to cater to diverse industries such as fashion, advertising, and architecture by developing AI models for image creation. Some people call it the biggest competitor to Midjourney.
The company had previously raised over $38.8 million from several
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Mohit Pandey
Mohit writes about AI in simple, explainable, and often funny words. He's especially passionate about chatting with those building AI for Bharat, with the occasional detour into AGI.
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