Australia’s biggest private technology company, Canva, has posted 30 per cent revenue growth for the year to May in a private investor update that will help justify its hefty $60 billion valuation in the face of an artificial intelligence-created correction.
The design platform has been working to reposition itself as a net beneficiary of AI in the hope of containing fears that the arrival of tools developed by the likes of Anthropic and OpenAI could either slash the number of subscriptions it sells, or create a major competitor.
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