Gamma vs Canva
Jan-Erik Asplund
TL;DR: As AI has taken over text, image & website generation, Gamma is bringing them all together in its vertically-integrated, vibe coding adjacent platform for generating multimedia microsites, interactive decks and long-form documents from natural language prompts. Sacra estimates Gamma hit $50M ARR in April 2025, up from $33M at the end of 2024. For more, check out our full report and dataset.
We first covered the pre-LLM Gamma in February 2022 when we interviewed CEO Grant Lee about slides and his take on visual communication in the workplace, and we followed up post-LLMs in July 2023 with his co-founder Jon Noronha to learn more about how Gamma was using generative AI.
Key points via Sacra AI:
- Founded in 2020, Gamma began as a card-based alternative to PowerPoint focused on responsive, mobile-friendly slides editable like web content—before relaunching in March 2023 as an LLM-native tool that turns a prompt, doc, or outline into a fully structured, visually polished presentation in seconds.Gamma monetizes via a freemium SaaS model with Plus ($10/user/month) and Pro ($20/user/month) tiers offering unlimited generations, custom domains, analytics, and premium templates, with conversion driven by usage-based credit caps on the free plan.
- Fueled by a blitz of #gammapartner tagged content from AI tool micro-influencers on TikTok and X, Sacra estimates Gamma reached $50M in ARR in April 2025, up from $33M at the end of 2024, with 20 million users. Tome ($81M raised, Coatue), which was first to market with its AI slide builder, focused on user growth and hit 10 million users but only had $3.5M in ARR, resulting in a shift first to enterprise and later to an AI-native CRM product, leaving Gamma as the default AI presentation tool for consumers.
- Gamma's upside is as a vibe-coding-adjacent platform that can generate and deploy rich, multimedia microsites and interactive decks from text prompts, versus Bolt.new and Lovable which generate raw code and require deployment, which is overkill for many simpler projects.Gamma's move into prompt-to-publish microsites puts it into competition with Canva, with Canva Code as Canva’s answer—rolled out in April 2025, it lets the platform’s 200 M+ monthly users turn a single prompt into pricing calculators, product guides, simple games, or full websites and embed them directly into any Canva design.
For more, check out this other research from our platform:
- Gamma (dataset)
- Canva (dataset)
- Lovable (dataset)
- Bolt.new (dataset)
- Grant Lee, co-founder of Gamma, on rethinking the primitives of presentations
- Jon Noronha, co-founder of Gamma, on building AI-powered slides
- Vibe coding index
- Lovable vs Bolt.new vs Cursor
- Canva: the $1.7B/year rectangle generator
- How Figma defied Adobe's bundlenomics
- Product manager at Canva on Canva's shift upmarket
