Canva valuation hits $20bn as revenues soar

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Global online graphic design business Canva has seen its valuation hit $20bn, just nine years after it was launched by Cliff Obrecht, Melanie Perkins, and Cameron Adams, three Melbourne friends.

(l-r) Canva founders Cameron Adams, Cliff Obrecht and Melanie Perkins. Photo: Canva.ALL
Soaring valuation: Canva founders (l-r) Cameron Adams, Cliff Obrecht and Melanie Perkins

The valuation propels the trio into the rarified Aussie billionaires bracket, with Obrect and Perkins, who are married, worth $7.8bn between them, placing them among the 10 richest people in the country. Adams is now worth $2.4bn.

The company’s valuation has risen by 150 per cent since its last capital raising, in June last year. The new valuation came as it raised a fresh $US71m, taking its overall capital raised to US$500m, over the course of 13 rounds. The founding trio have managed to keep a substantial stake in the business.

Canva's revenue has more than doubled in the past year, surpassing $500m annualised, a year-on-year increase of some 130 per cent. Canva says it now has 55 million monthly active users, and three million paying customers.

It says its Canva Presentations product for team collaboration is now used by 85 per cent of Fortune 500 companies.

Canva has just signed a world-first deal with Snap Print & Design in Australia, which sees the franchise group nominated as a print partner.

Canva's 1500 staff, 600 of whom are in Sydney, are also sharing in the booming valuation. They own five per cent of the business between them, under an employee share scheme.

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