CANVA ACQUIRES LEONARDO.AI

Summary from the TLDR Founders newsletter

Leonardo.ai, a generative AI art platform, has been acquired by Canva to enhance its Magic Studio suite with advanced AI capabilities. The acquisition is part of Canva's ongoing investment in generative AI tools, which began in December 2022 and has included the development of internal projects and acquisitions. With over 19 million registered users and a billion images created using its tools, Leonardo.ai is expected to significantly contribute to Canva's goal of building a powerful, all-in-one visual AI offering.