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AI's big benefit: Canva hikes prices by 300%
I didn't say that YOU benefit. Canva does.
https://ia.acs.org.au/article/2024/canva-hikes-prices-by-300pc-as-it-readies-for-ipo.html
Canva has announced a price increase of 300 per cent for some of its users as the Australian tech company prepares for a public listing in the US.
...
A spokesperson for Canva said the price rise was due in part to the introduction of a number of new features on the Canva platform, including many powered by AI and generative AI.
...
The steep price increase comes as Canva is readying for a potential public listing in 2026.
The company will be conducting the IPO in the US, with Canva co-founder Cliff Obrecht earlier this year saying that this was an “obvious” decision as Australian investors “don’t understand tech as well [compared to] higher multiples, more sophisticated investors in the US”.
...
A spokesperson for Canva said the price rise was due in part to the introduction of a number of new features on the Canva platform, including many powered by AI and generative AI.
...
The steep price increase comes as Canva is readying for a potential public listing in 2026.
The company will be conducting the IPO in the US, with Canva co-founder Cliff Obrecht earlier this year saying that this was an “obvious” decision as Australian investors “don’t understand tech as well [compared to] higher multiples, more sophisticated investors in the US”.
Translation: US "investors" (day traders) will go bonkers for anything with "AI" in it, so we are rushing this like a racehorse before everything down to butt wipes claims to have AI and it's as meaningless as "NEW AND IMPROVED"
Good one.
But Kraft didn't jack the price 300%.
THEY TOOK THE AI ( Artificial Ingredients ) OUT.
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