Canva Announces 300% Price Hike for Canva Teams AI Features Ahead of U.S. IPO

Sep 3, 2024, 03:20 PM

Canva, the Australian design software company, has announced a significant price increase of up to 300% for some of its subscriptions, particularly affecting Canva Teams users. Existing subscribers are being moved to a new, more expensive pricing model, with some subscriptions increasing from $120 to $500 annually. The company attributes the price hikes to the costs associated with developing new generative AI features. This move comes as Canva prepares for a potential public listing in the U.S. in 2026. The price increase has sparked mixed reactions and user backlash, with some questioning the value of the new AI features.