https://techcrunch.com/2024/07/29/canva-acquires-leonardo-ai-to-boost-its-generative-ai-efforts
The financial terms of the deal weren’t disclosed, but Canva co-founder and chief product officer Cameron Adams said it’s a mix of cash and stock. All of Leonardo.ai’s 120 employees will be joining Canva, including the executive team.
“Leonardo will continue to run independently of Canva with a focus on rapid innovation, research and development, now backed by Canva’s resources,” Adams told TechCrunch. “We’ll keep offering all of Leonardo’s existing tools and solutions. This acquisition aims to help Leonardo develop its platform and deepen their user growth with our investment, including by expanding their API business and investing in foundational model R&D.”
