Graphic design company Canva announced it is acquiring fellow Australian startup Leonardo AI with plans to have Leonardo’s 120 employees, including executives, join the Canva AI team. Financial terms of the deal were not disclosed. Sydney-based Leonardo has been gaining attention for its advanced generative AI platform that helps users create images and art based on the open-source Stable Diffusion model developed by Stability AI. The Leonardo team claims its offering is different than other AI art platforms since it provides users with more control. Users can experiment with text prompts and quick sketches as Leonardo.ai creates photorealistic images in real time. Continue reading Canva Aims to Boost Its GenAI Efforts with Leonardo Purchase

Microsoft has officially moved its AI-powered Designer app out of preview, making the Canva competitor available to iOS and Android users. The app uses text prompts to generate images and designs for items such as logos, greeting cards, stickers and invitations. Powered by OpenAI’s DALL-E 3 image model, Designer is available as an app in Windows and as a free mobile app. New capabilities include the ability to edit existing designs and the addition of “prompt templates” to help users who are starting the design process with a blank canvas. “Just describe what you want to see, and Designer can create it for you,” explains Microsoft. Continue reading Microsoft Designer Adds AI Editing, Launches Mobile Release

Web-based editing application Canva unveiled a significant makeover this week in Los Angeles at the Canva Create event. Touting “a whole new Canva,” the company shared changes that impact the entire platform, from pricing to tools, templates and user interface. The new editor, designed to make it easier to jump between projects, is “available to the first one million users who discover the secret portal hidden in their Canva homepage, before becoming available to the entire Canva community from August.” The 11-year-old company, which claims 183 million free and paid monthly users, also unveiled an enterprise solution. Continue reading Graphics Productivity Tool Canva Unveils Enterprise Redesign

Web-based design app Canva has raised the curtain on its AI-powered Magic Studio as part of the company’s 10-year anniversary outreach. Canva is positioning Magic Studio as collecting diverse AI tools to provide a “comprehensive AI-design platform” for business and home users that want to automate labor-intensive tasks like creating and editing images and outputting to different formats using generative artificial intelligence. Created for “the 99 percent of the world without complex design skills,” Canva’s Magic Studio offers many of the features now being built-in to smartphones and software suites, but easier and “all in one place.” Continue reading Magic Studio from Canva Offers AI Design for All Skill Levels

Canva, the web-based design platform, is debuting “Magic” AI-powered tools that can automate a variety of tasks, from logo design to video editing. The idea is to empower people without design training to do these things, and more. Infographics, advertising materials, illustrations and presentations are among the types of output Canva AI offers. The company is also adding brand management tools to its Visual Worksuite, including a Brand Hub that provides assets for creative application, with permission settings that can restrict off-brand use of things like color or fonts. Continue reading Canva Launches New Branding Features and Magic AI Tools

Adobe announced it plans to purchase rival digital design suite Figma for $20 billion in cash and stock. The news was disclosed as part of its Q3 earnings report, which saw revenue of $4.43 billion, exceeding analysts’ expectations. Despite the healthy cashflow, Adobe says it may have to finance part of the deal, which will have to clear regulatory hurdles in a very pro-competition environment. Founded in 2011, Figma released its first product in 2015, leveraging the WebGL API to create real-time collaborative tools for web-based design teams “working together beyond company walls.” Figma lists Airbnb, Conde Nast and Github among its users. Continue reading Adobe Will Purchase Digital Design Rival Figma for $20 Billion

In Q2 of this year, large money-management companies including hedge funds, mutual funds, pensions and sovereign-wealth groups became bigger players in Silicon Valley than venture capitalists with regard to startups. According to PitchBook Data, these nontraditional funders took part in 42 percent of startup financing deals, forming more than 75 percent of the invested capital. PitchBook added that, in the first half of 2021, investment in U.S. startups reached $150 billion, more than funding in every year prior to 2020. Continue reading Money Management Firms Surpass VCs in Funding Startups

Instagram’s Stories — featuring short, disappearing photos and videos — are now read by 400 million people per day. An app called Unfold, created specifically for Instagram Stories, is growing in popularity. Alfonso Cobo, an architect, created Unfold in March 2017 and the app already has 11 million users. Cobo is also opening a design agency to help brands and companies that need to create compelling content for Stories. Cobo originally created Unfold as an app for designers to use the iPad to create portfolios. Continue reading Unfold, an App for Designing Instagram Stories, Gains Steam