With its valuation slashed, the managers of Canva aren’t particularly happy about it.
So to prove the naysayers wrong, the Canva managers have decided to release their own Office Suite to compete against Microsoft Office and Google Space.
Considering that Canva has yet to go IPO, we’ll use some stats we can find online and some good old thinking to assess Canva’s potential.
In terms of office productivity software:
Microsoft Office’s market share in 2021 is around 47.5%, Google’s office suite takes 44.56%, and Adobe Acrobat Pro accounts for less than 1%.
Here are their market caps as well as of 19/9/22:
As you can see above, regardless of how big a company is, it’s just too hard to take market share away from Microsoft and Google. Especially, Microsoft which has dominated the office space for such a long time.
Just look at how Adobe hasn’t even made a dent.
As a matter of fact, 70% of Fortune 500 companies still utilize Microsoft Office. So, we’re talking about a lot of revenue here.
What Microsoft has going for it over Canva is that it’s known for its Office products and to be honest, there’s nothing particularly bad with Office that I need to swap.
I do use Google Docs but that’s just because Word didn’t have a browser version of Word at that point in time. With so many documents already on Google Docs, I’m just too lazy to move to a browser version of Word now.
I’m not too sure what space Canva is trying to capture. They’ve done well with the graphics design space. Making beautiful graphics used to be too hard until Canva came about and that I agree with.
Apparently, Canva will make collaboration easier, but you can already do that with Office and Workspace, so again, I’m not too sure what the angle of attack will be.
It’ll be fun to see what sort of innovations Canva can bring about to the Office space, but to be honest, I haven’t yearned for any sort of major improvements. So, we’ll just see how it turns out.
Subscribe to DDIntel Here.
Join our network here: https://datadriveninvestor.com/collaborate
empowerment through data, knowledge, and expertise. subscribe to DDIntel at https://ddintel.datadriveninvestor.com
For The Interested
Aussie Writer. Top Writer in Investing, Business, Startup and Entrepreneurship. I like to write about many things.
Should Canva Take on Microsoft and Google? – DataDrivenInvestorShould Canva Take on Microsoft and Google? – DataDrivenInvestor https://eliteenterprisesoftware.com/wp-content/uploads/2022/09/wp-header-logo-722.png 0 0 Alan Dickson https://secure.gravatar.com/avatar/6162a8bbc0c962bebd372efbc1908402?s=96&d=mm&r=g