Canva valuation doubles in six months
Booming online design business Canva is now worth double its April valuation, valued at more than Woolworths, Telstra and the same as mining giant Fortesque, and is on its way to becoming Australia's most successful tech start-up.
The nine-year-old Sydney-based global operation is now worth a stratospheric US$40bn ($55bn), after it raised another US$200m from investors. Just six months ago the company was vaued at US$20bn. Annualised revenues are now $700m.
Canva is actively looking for local printer partners, with Australia's biggest print franchise Snap Print & Design now a Canva partner, becoming the world’s first print franchise to partner with the online juggernaut. For printers Canva offers the opportunity to have an online design option, and to print work generated by Canva customers.
Canva was founded by three friends in 2012, with trio Cameron Adams, Cliff Obrecht and Melanie Perkins now all billionaires. The company now has 60 million monthly active users, which is 10 per cent more than six months ago, and has 500,000 paying teams using its service.
The valuation makes Canva the country’s biggest unlisted company, with only Visy at $9bn and Hancock Prospecting at $15.8bn in the same league, although they are way behind.