Tech unicorn Canva picks up Sydney startup MagicBrief
Perth-founded tech unicorn Canva is buying an Australian AI-powered creative intelligence startup as it pushes deeper into the enterprise and marketing sector.
Canva said the acquisition of Sydney-based MagicBrief would build out its Visual Suite offering for marketing and creative teams.
MagicBrief was founded in 2022.
Its creative analytics and research platform uses AI to help marketers better understand and respond to their advertising content strategies, formats, and messages that perform best with audiences.
The tools are already being used by thousands of global brands, marketers and agencies to analyse and inform creative development and have to date analysed more than $6 billion in ad spending.
The purchase price was not disclosed.
Canva co-founder Cliff Obrecht said the deal marked a major expansion of the company — which bills itself as 'the world's only all-in-one visual communication platform' — and introduces a 'powerful' new layer of creative intelligence to its recently upgraded Visual Suite.
'We've spent the last decade empowering millions of teams to create impactful and engaging visual content,' Mr Obrecht said.
'Now, with MagicBrief joining Canva, we're entering the next frontier by powering the entire content and marketing workflow, from ideation and creation to deployment, measurement, and now analysis and optimisation.
'In today's visual economy, winning brands are those that know exactly what creative works, where it works, and why. By combining MagicBrief's AI-powered insights with Canva's Visual Suite, we're giving every team the tools to not just create great content, but drive stronger results.'
George Howes, co-founder and chief executive of MagicBrief, said the startup would continue to operate independently while its technology and team integrate into Canva.
'We started MagicBrief to give creative teams smarter tools to move faster and make better work,' Mr Howes said.
'Joining Canva takes that vision to the next level — helping us reach more marketers and turn great ideas into high performing creative.'
Canva was launched from a Dianella loungeroom in 2013 by Mr Obrecht and now wife Melanie Perkins, who met while she was studying at the University of Western Australia.
Now based in Sydney, the private company which has been backed by some of the world top tech investors, has enjoyed exponential growth to more than 240 million monthly users across 190 countries, with annualised revenue of $US3 billion ($4.6b).
The company is now reportedly worth almost $49b — putting it ahead of the market capitalisation of big names such as Rio Tinto, Fortescue, Woolworths and Coles.
But its founders has remained tight-lipped on a time frame for long-running rumours of a float in the US.
A listing would likely bring in fresh capital that could be used for product development and further acquisitions.
Mr Obrecht and Ms Perkins were recently placed sixth on the Australian Financial Review's annual list of Australia's richest people, with an estimated combine et worth of $14.1b.
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