Design platform Canva, launched in 2013, set out to democratize visual creation with user-friendly tools like templates and drag-and-drop features, catering primarily to non-professionals. This approach has led to impressive growth, boasting around 170 million monthly active users and achieving a valuation in the billions.
However, the rise of generative AI posed a challenge as it simplified visual design even further. Yet, CEO Melanie Perkins views this evolution not as a threat but as an opportunity to enhance creativity. Canva has successfully integrated AI tools, such as acquiring Leonardo.ai and launching the Magic Studio suite, which includes an AI assistant that helps users turn data into visuals and find design inspiration.
As Canva pivots towards larger corporate clients, it has made strategic acquisitions, such as the design platform Affinity. Perkins has embraced this transition, expressing that the expansion will leverage Canva’s capabilities across various departments in organizations, particularly in software, marketing, and HR. This shift also included a viral marketing campaign targeting CIOs, highlighting the tool’s versatility.
Perkins outlines a three-part strategy to integrate advanced technology into Canva’s offerings seamlessly, ensuring they enhance the user experience while reinforcing the app ecosystem for better connectivity and user growth. Addressing concerns about AI possibly diminishing human creativity, Perkins believes that technology will evolve the creative process rather than replace it.
Canva continues to position itself firmly against competitors like Microsoft Office and Google Workspace by focusing on the intersection of creativity and productivity. Perkins shares that Canva is extensively used within the company itself for a wide array of purposes, underscoring the platform’s adaptability.
While Canva saw a drop in valuation from $40 billion to $26 billion amid broader market shifts, Perkins remains optimistic about the company’s profitable trajectory and commitment to sustainable growth. Her philanthropic vision includes pledging over 30% of equity to charitable causes, primarily through partnerships like GiveDirectly, benefitting those in extreme poverty.
With ambitions to reach a billion users, Perkins notes the significant user base already represented in various countries. Although an IPO is likely on the horizon, Canva’s focus remains on building strong community ties and adapting to ongoing changes in the tech landscape.
