This move is a significant step for Canva, Australia's most valuable startup, as it expands its range of professional tools. Affinity's apps, which have been featured in Apple Inc.’s presentations of creative products, will complement Canva’s selection of AI-powered tools. Canva, which has over 175 million users and surpassed $2.1 billion in annualized revenue, has now acquired a total of seven companies in Europe as it seeks to expand its presence on the continent.
Key takeaways:
- Canva Inc. has acquired the Affinity suite of creative software, marking its biggest acquisition to date as it aims to compete with Adobe Inc.
- The deal is a mix of cash and stock, valued at several hundred million pounds, and includes the entire 90-person team of Serif, the startup responsible for Affinity’s software.
- Affinity's apps will be used to complement Canva’s selection of artificial intelligence-powered tools as the Australian firm bolsters its offering of online workspaces.
- Canva, valued at $26 billion, has surpassed $2.1 billion in annualized revenue and has over 175 million users, with over 90 million new users added over the past 18 months.