New Adobe competitor hopes that economic downturn will drive sales

Canva, a software design platform company, is hoping that customers will switch from more expensive competitors, such as Adobe, to its platform during a potential economic downturn, The Wall Street Journal reported Nov. 23.

Canva, based in Australia, has 100 million worldwide users of its software. The company grew rapidly by allowing schools and nonprofit organizations to access its suite of products for free. 

Roughly 10 percent of users pay for additional functions, such as the ability to work in teams. Canva executives value the company at $1 billion.

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