📝 Canva acquires Leonardo.ai

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Canva has acquired generative AI startup Leonardo.ai to expand its AI technology stack, with the deal involving both cash and stock. All 120 employees of Leonardo.ai, including the executive team, will join Canva. Leonardo.ai, which was founded in 2022 and originally focused on video game asset creation, will continue to operate independently, benefiting from Canva’s resources to innovate and grow its user base. This acquisition aims to enhance Canva's Magic Studio suite with Leonardo.ai's technology, which includes tools for image creation and AI model development. Leonardo.ai has over 19 million users and has facilitated the creation of more than a billion images. This acquisition is part of Canva's broader strategy to invest in AI, with the company planning to integrate Leonardo.ai's capabilities into its existing AI offerings to enhance its visual AI services.

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Startup PromoTix ($48M in traction) is saving the events industry

PromoTix is solving the event industry’s challenges around high ticket fees and low attendance. Ticketmaster and competitors charge up to 40% of the ticket price to book, deterring guests who can’t afford the added cost. Combined with a crowded marketing space, events struggle.

PromoTix is raising funds to expand. Already profitable, with 656k users and $48M in sales in its first 30 months, PromoTix has low-fee and no-fee SaaS pricing, as well as patented marketing tools that drive attendance.

See investment terms

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