Canva has announced a sharp increase in the annual cost of its Teams subscription plan, jumping from $119.99 to $500 per year. This 300% price hike is attributed to the platform's new AI-powered features, including Magic Studio, designed to enhance team collaboration and design efficiency. A Canva spokesperson explained, “Our original pricing reflected the early stage of this product and has remained unchanged for four years. We’re now updating the price to reflect our expanded product experience.” Canva's Pro plan remains unchanged at $120 per year. However, this move follows the company’s broader strategy of integrating AI into its offerings, which the company claims justifies the higher cost. The price hike is set to take effect in December, with a 40% discount offered for the first year, bringing the initial cost down to $300. The increase has sparked mixed reactions, especially among smaller businesses and team who have relied on Canva for its affordability. While some appreciate the added features, others express concern that Canva might be pricing itself out of reach for the very users who contributed to its global success. This development comes at a time when tech companies globally are reassessing their pricing models, especially with the integration of advanced technologies like AI.
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