Sydney-based design software startup Canva is making a significant move into India with the launch of new tools and a subscription product tailored for large companies.
Melanie Perkins, Chief Executive Officer of Canva, in an interview with ET said:
“India is a key focus country for us. There is a big visual and creative culture (there). There is a natural home for Canva in Indians’ hands.”
The $26-billion startup, founded in 2013, boasts 180 million monthly active users worldwide and generates an annual recurring revenue of $2.3 billion.
Canva, founded by Australian entrepreneurs Melanie Perkins, Cliff Obrecht, and Cameron Adams, positions itself as a formidable competitor to American tech giant Adobe with its user-friendly, ‘freemium’ design software.
Although a significant portion of its revenue comes from individual content creators and small businesses who upgrade to paid accounts, Canva now aims to establish itself as an enterprise software provider, assisting large companies with their comprehensive design needs.
By targeting large accounts with stable, long-term financial commitments, Canva seeks to ensure steady revenue generation.
India, Canva’s fifth largest market, exemplifies the company’s growth potential, particularly within the burgeoning creator economy.
Between 2022 and 2023, Canva doubled its growth in India, where 240,000 freelancers currently use the platform.
Perkins added:
“A lot of people are already using Canva in these organisations at an individual level, but now we are trying to integrate it all and sell to enterprises directly. They might not be in one large account now; this will help them bring everything under one brand IP.”
Canva’s latest offering enables businesses to create company-wide design templates, safeguard their intellectual property (IP), and maintain greater control over their visual assets.
The new suite is designed to meet the needs of teams across various departments, including human resources, creative design, marketing, and administration.
As smartphones proliferate and content creation continues to surge in India, the demand for specialized design tools grows. No wonder, Canva is poised to capitalise on this opportunity, broadening its reach and enhancing its impact on the global design landscape.
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