Canva is proving to be more than just a user-friendly graphic design tool. At its Canva Create event, the Australian company announced a suite of new products to round out its product offerings: Canva Docs, Canva Websites, Canva Whiteboards, and Data Visualization, which stems from its acquisition of Flourish.
Canva will also expand its print offerings and introduce video background removal technology. Canva Presentations, which will be released in 2021, will include a remote control feature that will allow presenters to connect other devices (such as a phone) to use as a virtual clicker.
"We've been working on the new era of Canva for the last two years essentially," said Cliff Obrecht, Canva co-founder and COO, in an interview with Kay Blogs. "Canva has always been more of an individual product with a strong presence in the workplace." But we've never really launched this worksuite designed for businesses."
Canva claims that its design tools are used by 85% of Fortune 500 companies, including FedEx, L'Oreal, and Salesforce. Canva for Teams, which was launched last year, has over 4.4 million customers, but the worksuite, like all of Canva's products, will have a freemium model. The worksuite, like its Teams product, will include collaboration features that will allow team members to collaborate in realtime on documents.
Any work suite product will, by definition,
Any worksuite product will inevitably be compared to Google Suite or Microsoft Office. But, according to Obrecht, Canva is not attempting to compete with these corporate behemoths. Canva, on the other hand, he sees as a visual complement to these tools.
"We're not attempting to compete with Google Docs," Obrecht told Kay Blogs. "Because our products are inherently visual, we look at what a visual document looks like." "How do you turn that boring text-based document into something interesting?"
Canva's worksuite products are interoperable, so you can turn a presentation into a document or a website.
Canva raised $200 million last year at a $40 billion valuation. In an era when venture capital is scarce,
Canva raised $200 million last year at a $40 billion valuation. In an era when venture capital is scarce and valuations are falling, Obrecht believes Canva is well-positioned to take the lead.
"We're in a really fortunate position where we're a profitable company with a huge cash balance, unlike a lot of our peers," Obrecht said. Canva has about $700 million in the bank, he told Kay Blogs, and the company is aggressively hiring. On its website, the company currently lists 227 open positions.
Canva's profitability, according to Obrecht, is due to the nature of the Australian tech ecosystem, which is far removed from Silicon Valley, where venture capital can (or used to) flow freely.
"We matured."
"We grew up in Perth, Western Australia, which is the world's most isolated city," Obrecht explained. "We had no idea what venture capital was. We thought we had a small business, but when we went to the United States, everyone said, 'Oh, you have a startup!'"
So Canva began with business loans and worked hard to become profitable right away.
"We built this really sustainable, profitable, frugal engine, and then we got capital on board, and then we're like... we haven't spent the capital because we have this frugal business that actually makes money," Obrecht explained. "That has definitely set us up for success." "Canva also plans to launch its API in beta, making it easier for developers to integrate with the worksuite." Furthermore, Canva is launching a creator programme through which highly-vetted designers will be able to sell templates, photos, and designs to Canva users. Obrecht declined to share the revenue split between Canva and its creators, stating that it varies depending on the complexity of the product — for example, an ultra-technical video template may earn a creator more money than a stock photo.
Canva Link: https://www.canva.com/




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