The Australian tech giant has seen its valuation surge from $38.5 billion to $49 billion in just one week.
Canva, the Australian-owned design platform, has increased its valuation by nearly 20%, following a secondary round of share sales that allowed early investors to offload their holdings. This marks the first major transaction since April, when employees and investors were given the green light to sell their shares for the first time.
Canva
“We’ve recently completed a number of investor transactions at a valuation of US$32 billion, up from US$26 billion at our US$1.6 billion secondary sale in April this year. This comes as demand for Canva shares continues to surge.”
The design platform, which has expanded into the enterprise market in 2023, is now valued higher than some of Australia’s largest companies, including Telstra and Woolworths. However, Canva remains privately owned and is unlikely to pursue an IPO until at least 2025 or 2026.
In a move to strengthen its position in the technology space, Canva acquired Photoshop competitor Affinity in March, along with Australian AI startup Leonardo.AI for $374 million earlier this year.
‘Canva Teams’ membership holders, which is custom built for businesses, have been told that prices will rise to reflect the valuation of ‘ground-breaking’ new products and plaftorm enhancements.
Annual revenue has also seen significant growth, with Canva reporting $3.81 billion in revenue in October. The platform is now used by more than 95% of the Fortune 500 companies.
Canva was founded in 2013 by Melanie Perkins, Cameron Adams, and Cliff Obrecht. The company now boasts over 200 million active users globally.
