Subject category:
Entrepreneurship
Published by:
Amity Research Centers
Length: 5 pages
Data source: Published sources
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https://casecent.re/p/177135
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Abstract
Founded in 2013, Canva was an Australian Startup that had developed an online graphic design platform. Its website and apps (Android and iOS) enabled students, bloggers, beginner graphic designers and marketers to use its cloud-based photo editing and content creation tools to create graphics for presentations & social media, invitations, posters, flyers, business cards, and info graphic. Canva had adopted a freemium model; wherein some features were available for free, while others were available on payment. Post launch, Canva had achieved growth at the scale that very few companies had recorded. In June 2017, it had also launched Canva Print, a paid service that enabled users to create and order printed designs, which were home delivered. The company had received funding from several investors and had become a tech unicorn in 2018. By 2020, it had acquired over 15 million users and 300,000 paying customers. In February 2021, Canva had acquired two design start-ups, an Austrian AI platform Kaleido.ai and Smartmockups, a Czech-based product mock-up generator, to boost Canva's capacity in the Artificial Intelligence and automation space. One of Canva's goals was to be a trillion-dollar company. However, on the road to that milestone, market analysts had said that Canva would come across several challenges such as, a company with a freemium model could not grow rapidly, as most users would not pay for the services utilised. Only four companies namely Apple, Amazon, Microsoft and Alphabet had become trillion-dollar companies. Would Canva become a trillion-dollar company?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Time period
The events covered by this case took place in 2021.Geographical setting
Region:
World/global
About
Abstract
Founded in 2013, Canva was an Australian Startup that had developed an online graphic design platform. Its website and apps (Android and iOS) enabled students, bloggers, beginner graphic designers and marketers to use its cloud-based photo editing and content creation tools to create graphics for presentations & social media, invitations, posters, flyers, business cards, and info graphic. Canva had adopted a freemium model; wherein some features were available for free, while others were available on payment. Post launch, Canva had achieved growth at the scale that very few companies had recorded. In June 2017, it had also launched Canva Print, a paid service that enabled users to create and order printed designs, which were home delivered. The company had received funding from several investors and had become a tech unicorn in 2018. By 2020, it had acquired over 15 million users and 300,000 paying customers. In February 2021, Canva had acquired two design start-ups, an Austrian AI platform Kaleido.ai and Smartmockups, a Czech-based product mock-up generator, to boost Canva's capacity in the Artificial Intelligence and automation space. One of Canva's goals was to be a trillion-dollar company. However, on the road to that milestone, market analysts had said that Canva would come across several challenges such as, a company with a freemium model could not grow rapidly, as most users would not pay for the services utilised. Only four companies namely Apple, Amazon, Microsoft and Alphabet had become trillion-dollar companies. Would Canva become a trillion-dollar company?
Teaching and learning
This item is suitable for undergraduate, postgraduate and executive education courses.Settings
Time period
The events covered by this case took place in 2021.Geographical setting
Region:
World/global