Canva Acquires Leonardo.AI: Stack Capital Group Inc. Sees Potential Upside
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Stack Capital Holding Canva Acquires Leonardo.Ai By Investing.com
TORONTO, July 30, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK) is pleased to announce that Canva, Inc. (Canva), an existing portfolio holding, has acquired Leonardo.Ai (Leonardo), a generative AI content and research startup. Leonardo's platform combines ease of use and power to produce stunning images ranging from hyper-realistic photos to character portraits, anime, painterly styles, and more. Its AI video generation tool also brings any concept to life, from animated illustrations to storytelling sequences. To date, over one billion images have been created using Leonardo's tools/platform, by nineteen million registered users worldwide. As part of the transaction, Leonardo's technology will integrate into Canva's Magic Studio generative AI suite, making existing Magic Studio tools more powerful and opening the door to new generative AI capabilities powered by Leonardo's models. Leonardo will continue to run independently of Canva with a focus on rapid innovation, research, and development, however, it will benefit considerably from the backing of Canva's financial resources, expertise, and licensed content. This acquisition integrates Leonardo's world-class technology into Canva's Magic Studio, which will supercharge its capabilities, said Jeff Parks, CEO of Stack Capital. Users worldwide, including design industry professionals, will be able to create compelling and innovative visual communications, faster. This marks another key step forward for Canva, making its platform even more attractive to its global community of users. To access a copy of the Canva announcement please click here. About Stack Capital Stack Capital is an investment holding company and its business objective is to invest in equity, debt, and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company. For more information, please visit our website at www.stackcapitalgroup.com or contact: Brian Viveiros VP, Corporate Development, and Investor Relations 647.280.3307 [email protected] A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/20fbfceb-6c5f-4e19-85e5-f088a48bd7d1
[2]
Stack Capital Holding Canva Acquires Leonardo.Ai
TORONTO, July 30, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., STCK is pleased to announce that Canva, Inc. ("Canva"), an existing portfolio holding, has acquired Leonardo.Ai ("Leonardo"), a generative AI content and research startup. Leonardo's platform combines ease of use and power to produce stunning images ranging from hyper-realistic photos to character portraits, anime, painterly styles, and more. Its AI video generation tool also brings any concept to life, from animated illustrations to storytelling sequences. To date, over one billion images have been created using Leonardo's tools/platform, by nineteen million registered users worldwide. As part of the transaction, Leonardo's technology will integrate into Canva's Magic Studio generative AI suite, making existing Magic Studio tools more powerful and opening the door to new generative AI capabilities powered by Leonardo's models. Leonardo will continue to run independently of Canva with a focus on rapid innovation, research, and development, however, it will benefit considerably from the backing of Canva's financial resources, expertise, and licensed content. "This acquisition integrates Leonardo's world-class technology into Canva's Magic Studio, which will supercharge its capabilities," said Jeff Parks, CEO of Stack Capital. "Users worldwide, including design industry professionals, will be able to create compelling and innovative visual communications, faster. This marks another key step forward for Canva, making its platform even more attractive to its global community of users." To access a copy of the Canva announcement please click here. About Stack Capital Stack Capital is an investment holding company and its business objective is to invest in equity, debt, and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company. For more information, please visit our website at www.stackcapitalgroup.com or contact: Brian Viveiros VP, Corporate Development, and Investor Relations 647.280.3307 [email protected] A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/20fbfceb-6c5f-4e19-85e5-f088a48bd7d1 Market News and Data brought to you by Benzinga APIs
[3]
Stack Capital Holding Canva Acquires Leonardo.Ai
Transaction significantly broadens the scope of Canva's Magic Studio generative AI Suite TORONTO, July 30, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK) is pleased to announce that Canva, Inc. ("Canva"), an existing portfolio holding, has acquired Leonardo.Ai ("Leonardo"), a generative AI content and research startup. Leonardo's platform combines ease of use and power to produce stunning images ranging from hyper-realistic photos to character portraits, anime, painterly styles, and more. Its AI video generation tool also brings any concept to life, from animated illustrations to storytelling sequences. To date, over one billion images have been created using Leonardo's tools/platform, by nineteen million registered users worldwide. As part of the transaction, Leonardo's technology will integrate into Canva's Magic Studio generative AI suite, making existing Magic Studio tools more powerful and opening the door to new generative AI capabilities powered by Leonardo's models. Leonardo will continue to run independently of Canva with a focus on rapid innovation, research, and development, however, it will benefit considerably from the backing of Canva's financial resources, expertise, and licensed content. "This acquisition integrates Leonardo's world-class technology into Canva's Magic Studio, which will supercharge its capabilities," said Jeff Parks, CEO of Stack Capital. "Users worldwide, including design industry professionals, will be able to create compelling and innovative visual communications, faster. This marks another key step forward for Canva, making its platform even more attractive to its global community of users." Stack Capital is an investment holding company and its business objective is to invest in equity, debt, and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company. A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/20fbfceb-6c5f-4e19-85e5-f088a48bd7d1
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Canva, a leading graphic design platform, has acquired Leonardo.AI, an AI-powered design tool. This acquisition is expected to benefit Stack Capital Group Inc., which holds a position in Canva through its investment in 1/10 Capital Fund.
Canva's Strategic Acquisition of Leonardo.AI
Canva, the renowned graphic design platform, has made a significant move in the AI-powered design space by acquiring Leonardo.AI
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. This acquisition marks a strategic step for Canva as it continues to expand its capabilities and maintain its position as a leader in the digital design industry.Leonardo.AI is known for its advanced AI-powered design tools, which allow users to generate high-quality images and designs using artificial intelligence. This technology aligns well with Canva's mission to make design accessible and efficient for users of all skill levels
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.Implications for Stack Capital Group Inc.
The acquisition has caught the attention of investors, particularly Stack Capital Group Inc., which holds a position in Canva through its investment in 1/10 Capital Fund
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. Stack Capital, a publicly-traded investment holding company, sees potential upside from this development.Jeff Parks, CEO of Stack Capital, expressed optimism about the acquisition, stating, "Canva's acquisition of Leonardo.AI further solidifies its position as the leader in the graphic design space"
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. This move is expected to enhance Canva's AI capabilities and potentially increase its market value.Canva's Growth and Market Position
Canva has been experiencing significant growth, with over 150 million monthly active users across 190 countries
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. The company's valuation stood at US$26 billion as of its last funding round in 2022. With the integration of Leonardo.AI's technology, Canva is poised to offer even more innovative and user-friendly design solutions.Related Stories
Impact on Stack Capital's Investment
Stack Capital's investment in Canva through the 1/10 Capital Fund represents a significant portion of its Net Asset Value (NAV). As of March 31, 2024, this position accounted for 16.9% of Stack Capital's NAV
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. The acquisition of Leonardo.AI by Canva could potentially increase the value of this investment, benefiting Stack Capital and its shareholders.Future Outlook
The acquisition of Leonardo.AI by Canva is expected to drive further innovation in the graphic design industry. As AI continues to play an increasingly important role in creative processes, Canva's enhanced capabilities could lead to expanded market share and increased user engagement
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.For Stack Capital and its investors, this development presents an opportunity for potential value appreciation. The company remains optimistic about Canva's growth trajectory and its ability to capitalize on the evolving landscape of digital design and AI-powered creativity
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