Aussie online Canva soars to $8.6bn valuation
Runaway Australian online graphic design success story Canva is seeing its valuation skyrocket, its latest fundraising round giving it a paper price tag of $8.6bn.
Canva was established by then 26-year-old Melburnian Melanie Perkins and two friends Cliff Obrecht and Cameron Adams in 2013. It is an online tool that enables unskilled people to create designs for a host of print applications – from banners and business cards to brochures and pillowcases. It is used by 30 million people per month in 190 countries.
Canva has just raised another US$60m for investment in an offer that was ten times oversubscribed. Canva says its business is seeing 100 per cent growth, doubling its user numbers and revenue every year. During the Covid epidemic it has hired an extra 60 staff to add to the 950 it had.
CEO Perkins says an IPO is not on the cards right now but is likely to take place in the future. Perkins launched her first business Fusion Books aged 19.