Canva, Australia's most valuable technology company at an estimated $65 billion, has acquired digital advertising startup Doohly.
The online graphic design platform is said to have paid $30 million for Doohly, an out-of-home content management system provider.
The acquisition is part of a strategy to power the “entire marketing and content lifecycle, from ideation and creation to deployment, measurement, and optimisation”.
Canva wouldn't comment on the commercial terms of the deal.
"Our vision has always been to empower the world to design anything and publish anywhere," Canva said.
"Over the past decade, we’ve helped millions of individuals and teams create content faster, stay on brand, and scale their output with ease.
"Now, we’re taking it further by powering the entire marketing and content lifecycle, from ideation and creation to deployment, measurement, and optimisation.
"We’re excited to welcome Doohly to Canva as part of this focus. They’ve built a strong platform loved by customers globally, building on our recent acquisitions of MagicBrief and MangoAI. We’ll have more to share on this later this year."
Canva last year acquired Australian startup MagicBrief, an AI-powered creative intelligence tool used to analyse more than $6 billion in ad spend.
“We’ve spent the last decade empowering millions of teams to create impactful and engaging visual content,” then said Canva co-founder and COO, Cliff Obrecht.
“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.”
Doohly last year announced a deal with Canva, giving direct access from within the out-of-home player’s platform.
“This means you no longer need to access multiple sites and download your designs. You can simply create them within our CMS streamlining the entire process,” Doohly said.
“This streamlining process allows you to spend less time managing files and more time operating your business.”
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