Canva To Acquire Generative AI Platform Leonardo.ai
Summary
The financial terms of the deal have not been disclosed, but Canva intends to incorporate Leonardo.ai’s customizable text-to-image and text-to-video generators into its platform. Canva has been expanding its platform with features resembling an office suite but continues to be a strong competitor to Adobe’s creative software. Leonardo.ai informed TechCrunch that its models are trained using a combination of licensed, synthetic, and publicly available/open-source data, a less specific approach compared to Adobe’s disclosure for Firefly. Adobe recently faced backlash over a policy update requiring explicit statements about user data not being used for training its generative AI models. As Canva seeks to position itself as a rising alternative in the market, it will need to navigate these issues carefully to avoid similar criticism from creators concerned about generative AI.