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Australia’s Canva Buys European Design Startups to Fuel Growth

  • Online design unicorn bolsters its visual communications tools
  • Canva has 50 million users, doubling from a year earlier

Canva Inc., the most valuable technology startup in Australia, acquired two European companies as the online design platform doubles down on visual communications tools.

Canva took full control of, an Austrian visual artificial-intelligence startup behind a popular design tool to instantly remove background from a photo or video. It also purchased Smartmockups in the Czech Republic, which allows e-commerce entrepreneurs and other users to quickly and easily create mockups for t-shirts, mugs and other items.