Canva is more than just a design tool. The Australian company announced at its Canva create event that it will unveil a suite of new products to round out its product offerings.
The background of videos will be removed with the help of Canva. A remote control feature will be added to Canva Presentations, which will allow users to connect other devices for use as virtual clickers.
There is a remote control for presentations.
The new era of Canva has been in the works for the last two years, according to the co- founder and COO. Canva has always been similar to an individual product in its penetration into the workplace. We have never launched a work suite that is suitable for organizations.
Most of the Fortune 500 companies use the design tools from Canva. Like all of Canva's products, there will be a freemium model for its work suite. The worksuite will allow team members to work together in real time on documents.
Any worksuite product will be compared to Microsoft Office or a similar product. Obrecht says that the company isn't trying to compete with them. He thinks of Canva as a visual companion to the tools.
The background removal feature of the video company, Canva.
Obrecht said that they weren't trying to compete head-to-head with the internet giant. What does a visual document look like? How do you make that boring document engaging?
If you make a presentation, you can use the worksuite products to create a document or website.
Developers will be able to more easily integrate with the worksuite with the launch of the CanvaAPI in the next few months. Highly-vetted designers will be able to sell templates, photos and designs to Canva users. An ultra-technical video template may earn a creator more money than a stock photo, according to Obrecht, who wouldn't share the revenue split between the two.
There is a drag and drop feature on the doc.
The company raised $200 million last year. In a time when venture capital is hard to come by and valuations are dropping, Obrecht thinks that Canva is well-equipped to charge ahead.
Obrecht said that the company has a huge cash balance and is in a good position. He said that the company has $700 million in the bank. There are over 200 open roles on the company's website right now.
Canva's profitability is due to the nature of the Australian tech scene, which is far away from Silicon Valley, where venture capital can flow freely.
Perth is the most isolated city in the world. We weren't sure what venture capital was. When we went to the U.S., everyone was like, "Oh, you have a startup!"
Canva started out with loans and worked to make money.
"We built this really sustainable, profitable engine that was frugal, and then we got capital on board, and then like... we haven't spent the capital because we've got this frugal business that actually makes money." That sets us up for success.
Canva raises $200 million at a $40 billion valuation
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