Canva has launched a range of new products that will see the Australian software design powerhouse try to compete with Google and Microsoft.
Co-founders Melanie Perkins, Cliff Obrecht and Cameron Adams on Wednesday unveiled Canva’s new Visual Worksuite, which will take Canva from a graphic design tool to an end-to-end visual communications platform.
Obercht told the audience at Sydney’s Hordern Pavilion that the new products will enable Canva users to design better websites, videos, presentations, documents, prints and whiteboards, and help businesses compete for users’ attention. .
“The technology we use hasn’t evolved with the modern visual world,” Obercht said. “What if we could bring the magic of Canva to the entire workplace?”
The launch is expected to put Canva, which is a top player in the graphic design industry, in competition with global tech giants.
Google and Microsoft are currently the biggest names in the workspace tools industry, with Google Cloud – which hosts Google Workspace – topping $6 billion in revenue in July, while Microsoft 365 generated over $20 billion. dollars in revenue in 2020.
Meanwhile, Canva Docs and Presentation will compete with Microsoft’s Word and PowerPoint, as well as Google’s Docs and Slides tools.
The Australian tech company will also enter Mural and Micro territory with its whiteboard tool, and rival WordPress and Wix with its web design tool.
Other new products from the $25.6 billion startup include an App Marketplace, where users can integrate all of their Canva apps and tools, while professional designers can earn money for their products on Canva Creator.
Subscribers will have access to the free template while paying the same price, with Canva Pro users paying $119.99 per person per year and Canva Teams paying $179.88 for five people per year.
Canva’s valuation fell from $40 billion last year to $26 billion in July.
Its founders, however, played down those concerns, pointing to its $700 million in cash reserves and continued hiring.
Obrecht told the Australian Financial Review (AFR) he believes the launch will help the graphic design company break the $40 billion mark in the near future.
He also noted that Canva Worksuite is “the next step to breaking into large enterprises of all types.”
Meanwhile, co-founder Adam told AFR that “agile companies” are more likely to see the appeal of applications than larger enterprises.