Canva's Investment in Advanced AI Design Solutions Leads to a 300% Surge in Subscription Costs

Canva, the Sydney-based design software titan, has cranked up its subscription rates by as much as 300%. The bold move, said to boost revenues and attract US investment, has come as the firm weighs up a Nasdaq listing. Key clients were informed of the price surge last week, which Canva attributes to the need for advanced investment in technology, especially artificial intelligence-powered design tools.

The firm, valued at a cool $US25.6 billion, has shown relentless growth since its inception in 2013. It originally undercut its main opponent, Adobe, bringing a more affordable option to individual users.
However, the firm's shifted its gaze to business users with its Canva Teams platform where the new pricing scheme applies. Previously, customers paid $US15 per month for five users on Canva Teams, now, they will pay a flat rate of $US10 per person per month.

These changes have not gone unnoticed. Some users have expressed the possibility of leaving the platform despite understanding the reasons behind the price increase, calling for a more gradual approach to such hikes.

The company, enjoying a success that has made it vital for the Australian tech sector, disclosed that its $US1.7 billion annualised revenue reported last October has since surged to $US2.3 billion.

- CyberBeat