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20Product: How Canva Builds Products: Lessons Learned, What Works? What Flopped? The Top 5 Product Lessons in Scaling to 185M Monthly Active Users with Canva Co-Founder and Chief Product Officer, Cameron Adams
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
Innovate and Offer Choices in Cloud and AI Services
In the cloud and AI services industry, there is healthy competition among providers like JIUA, AWS, and Google Cloud, allowing users to choose based on familiarity. Likewise, in AI development, companies like Google and OpenAI constantly innovate, offering features that others rush to catch up with. Offering AI capabilities as part of a subscription, like Canva does, is a strategy to add value and maintain customer satisfaction, even though there might be some additional costs involved. The key is to keep evolving products to retain customer loyalty and avoid stagnation. The impact of AI on revenue for companies like Canva is a question whether it enhances revenue or primarily leads to better product offerings and customer satisfaction.
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