this post was submitted on 04 Sep 2024
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Canva says its AI features are worth the 300 percent price increase (www.theverge.com)
submitted 11 months ago by Stopthatgirl7@lemmy.world to c/technology@lemmy.world
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The price of some Canva subscriptions are set to skyrocket next year following the company’s aggressive rollout of generative AI features. Global customers for Canva Teams — a business-orientated subscription that supports adding multiple users — can expect prices to increase by just over 300 percent in some instances. Canva says the increase is justified due to the “expanded product experience” and value that generative AI tools have added to the platform.

In the US, some Canva Teams users are reporting subscription increases from $120 per year for up to five users, to an eye-watering $500 per year. A 40 percent discount will be applied to bring that down to $300 for the first 12 months. In Australia, the flat $39.99 AUS (about $26 USD) per month fee for five users is switching to $13.50 AUS (about $9 USD) for each user. That means a team of five will pay at least 68 percent more, not withstanding any other discounts.

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[–] cmnybo@discuss.tchncs.de 92 points 11 months ago (14 children)

They are probably failing to get enough users, so they will attempt to squeeze as much money from their existing users as they can before they go under.

[–] etchinghillside@reddthat.com 33 points 11 months ago (2 children)

I just assumed the VC money dried up.

[–] overload@sopuli.xyz 25 points 11 months ago

All post-COVID tech companies in a nutshell.

AI seems to be getting used as the latest way to keep VCs still interested in a world of higher interest rates and otherwise tighter corporate spending.

[–] pdxfed@lemmy.world 6 points 11 months ago

It was the cheap fed money that allowed VC to speculate for so long.

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