Canva raises prices by 320% for US customers

Design platform Canva has announced to customers in the US that the price of a subscription to Canva Teams will rise from $120 per year to $500 per year for five users, representing a 320% increase. Customers in Australia, where Canva is based, have also been notified of large price increases, according to Information Age.

The reason for the hefty price increase: Canva has added a number of AI features recently, including Magic Studio.

Techcrunch reports that many users are upset about the price hike, not least since Canva Teams had previously been marketed as an affordable alternative to Adobe’s software. (Users will get a 40% discount for the first year, bringing the total to $300 instead of $500.)