Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Tech

An artistic triumph: Canva’s value soars three-fold

Published

on

From Instagram posts to water bottles, the design network that can turn anyone into an artist is now worth fortunes.

Canva, the online design platform now worth billions

The value of design platform Canva has increased almost three-fold, with the once $15 billion company now worth $40 billion USD.

It comes after a funding round led by T.Rowe Price helped raise 200 million dollars for the company.

AirTree adventures, Blackbird and Dragoneer Investments were among the new and pre-existing investment companies that contributed to the deal.

It’s a win for the Australian tech scene, painting Canva as one of the most valuable software companies online.

The graphic design platform enables anyone to be a star designer, no matter the level of experience.

From videos to t-shirts, Canva offers a range of templates across their easy-to-use platform, providing a convenient and easy experience for the user.

A step into the future of design

Co-founder and CEO Melanie Perkins says the goal of her platform is to replace PDF documents.

“Rather than people sending PDFs backwards and forwards between the designer and the client, designers can just create a template for organisation use,” Perkins says.

“It’s less important for us to absolutely excel at things like vector design because there are amazing programs on the market that may be there.”

“We really want to focus on that collaboration piece.”

How will the funding help?

The extra cash will be splashed on hiring two thousand workers, doubling their existing team where 42 percent of their workforce are women.

The extra funding also means the company is able to fulfill their dreams of further growing their business.

Web design, video editing and offline mode are all other features the platform is hoping to offer their growing user base, which is something the extra money can help them launch.

Perkins says it’s the funding from the investors that helps the platform remain to an extent free.

“We intentionally make our free product extremely generous for a number of reasons,”

“It means that people are able to love the product, share it with their friends and family, and promote it on social media, and then that virality really rapidly fuels our growth.”

Today, Canva has over 60 million users across 190 countries.

A number of big-name companies also use the platform, paying for their premium enterprise service.

Written by Rebecca Borg

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Tech

OpenAI to launch TikTok-like AI video app Sora

OpenAI to launch Sora, an AI-driven social app with TikTok-like features amid TikTok’s regulatory uncertainties

Published

on

OpenAI to launch Sora, an AI-driven social app with TikTok-like features amid TikTok’s regulatory uncertainties

video
play-sharp-fill
In Short:
– OpenAI is launching Sora 2, a social media app with AI-generated videos, competing with TikTok.
– The app features a unique identity verification system and provides short video content without uploads.
OpenAI is set to unveil Sora 2, a new social media app that imitates TikTok by offering AI-generated video content. The strategy positions OpenAI to directly challenge established platforms in the AI video market.The platform has begun internal testing. Employees have reacted positively, raising productivity concerns among managers. Sora 2 features swipe-to-scroll navigation and offers personalized video recommendations.

Banner

A unique identity verification system allows users to authenticate their likeness for use in AI-generated videos. Users will be notified when their likeness is used in videos, regardless of whether these are published. Video lengths are capped at 10 seconds, with no capability to upload personal content.

The app includes typical social media features like likes and comments, with a user interface that resembles TikTok’s “For You” page.

Strategic Launch

OpenAI’s timing for this launch is strategic, coinciding with uncertainties surrounding TikTok’s U.S. operations. Recent deals aim to transfer majority control of TikTok’s American business to U.S. investors while permitting ByteDance a minority stake.

OpenAI perceives the current turbulence as a unique opportunity to introduce a competitive platform for short-form videos, appealing to users seeking alternatives during this period of regulatory scrutiny.


Download the Ticker app

Continue Reading

Tech

Optus CEO under pressure after second emergency outage

Optus under mounting pressure for CEO resignation after second emergency outage affects thousands and raises safety concerns

Published

on

Optus under mounting pressure for CEO resignation after second emergency outage affects thousands and raises safety concerns

video
play-sharp-fill
In Short:
– Optus faces pressure after a second emergency service outage, affecting 4,500 customers for nine hours.
– Calls for CEO Stephen Rue’s resignation intensify amid scrutiny over network investment and safety mechanisms.
Australian telecommunications company Optus is under increasing pressure to address leadership concerns following a second emergency service outage in ten days.
The incident occurred in Dapto, south of Sydney, where around 4,500 customers were unable to reach Triple Zero emergency services due to a faulty mobile tower for nine hours.Optus confirmed all affected individuals were safe, but the repeated outages have raised significant alarms. The first incident took place on September 18, when a firewall upgrade blocked approximately 600 emergency calls across multiple states for 13 hours, resulting in at least four fatalities.

Banner

Calls for CEO Stephen Rue’s resignation have intensified, with opposition spokeswoman Melissa McIntosh stating that citizens need confidence in the emergency network.

Prime Minister Anthony Albanese described the situation as “completely unacceptable.” The response from Optus has faced criticism, especially regarding the delay in notifying emergency services after the September 18 incident.

Efforts to address the failures are underway, with Singtel Group CEO Yuen Kuan Moon scheduled to meet with Australian Communications Minister Anika Wells. The Australian Communications and Media Authority has launched an investigation into the outages.

Governance experts caution that merely replacing leadership will not resolve underlying issues, suggesting that reduced spending on network infrastructure is a contributing factor.

Federal Investigation

New scrutiny has emerged regarding Optus’s network investment, with reports indicating a budget decrease from $850 million in 2024 to $613 million this year.

Concerns have been raised about the absence of critical safety mechanisms, including a reliable system to reroute emergency calls when failures occur.


Download the Ticker app

Continue Reading

Tech

Meta intensifies robot development amidst competitive landscape

Meta enters robotics market with strategic partnerships and significant investments amid competition from Tesla, Apple and Google

Published

on

Meta enters robotics market with strategic partnerships and significant investments amid competition from Tesla, Apple and Google

video
play-sharp-fill
In Short:
– Meta is launching autonomous robots, beginning with a CA-1 AI robot in Germany for domestic tasks.
– The company plans to hire 100 engineers as part of a $60-65 billion AI investment for 2025.
Meta ventures into robotics, joining a market where Tesla’s Optimus robot showcases in controlled settings. Apple is also exploring robotic devices, with planned humanoid concepts by 2027.
Google is advancing robotics via DeepMind with AI models tailored for robotics applications.Banner

Meta recently launched its first autonomous robot in Germany through a partnership with Circus SE, deploying a CA-1 AI robot at its Munich office.

The initiative is part of Meta’s objective to gather data to support its robotics focus on domestic tasks such as cleaning and laundry folding.

Strategic Investment

Industry analysts point to Meta’s software-licensing strategy as crucial in the competitive landscape, where firms often encounter challenges with hardware costs.

By positioning itself to gain from various robotics manufacturers’ successes, Meta utilises lessons from its virtual reality investments, which have seen substantial spending with limited consumer uptake.

The company is set to hire around 100 engineers for its robotics programme within a broader $60-65 billion AI infrastructure investment plan for 2025.

The indicates a strong commitment to integrating AI into physical applications.


Download the Ticker app

Continue Reading

Trending Now