Incredible , Canva, The Australian online design platform has doubled in value to $40 billion.
David Smadja - 15 Septembre 2021
Australian graphic design company Canva is enjoying tremendous success and has become one of the most valuable companies on the stock market with a valuation of more than $40 billion
Canva’s management said the health crisis helped it grow so quickly.
After a successful new round of private equity investment of $200 million, which more than doubled the company’s value in five months.
It’s become the world’s most successful startup, according to the best financiers in New York.
According to business data provider CB Insights, Canva’s $40 billion valuation makes it the fifth most valuable startup in the world, behind China’s ByteDance, which owns TikTok, payment platform Stripe, Elon Musk’s rocket company SpaceX and Swedish financial technology company Klarna.
Canva was founded in Sydney in 2013 by Australians Melanie Perkins, 34, and Cliff Obrecht, 35.
The two partners own 36 percent of Canva’s capital, making them among the richest in the world.
Canva provides design templates that allow people to create everything from greeting cards and posters to resumes and calendars.
They mentioned that their customer base has grown to over 60 million users in 190 countries and that they are on track for $1 billion in revenue by the end of the year.
Canva management said it has 500,000 paying customers, including companies such as Zoom, Salesforce, Paypal, Marriott International and American Airlines, all of which the company said have increased their use of Canva’s design technology over the past year.
“From large enterprises to small businesses, the shift to distributed work has seen team adoption more than quadruple in the past 12 months,” the company said in a press release, referring to the number of companies that have adopted its software.
Its latest round of funding was led by global investment firm T.Rowe Price and investors included Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis and AirTree Ventures.
The firm also doubled its headcount this year, hiring more than 1,000 new employees by 2021, with headquarters in Sydney and Manila.
Canva, which became profitable in 2017 and reached a $1 billion valuation a year later, is now one of Australia’s most valued companies.
Its valuation puts it on par with publicly traded companies like supermarket giants Wesfarmers and Woolworths Group and mining company Fortescue….
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