Canva paid $22.5m for AI startup MagicBrief and is getting its house in order before an IPO
Regulatory filings reveal a flurry of activity at the design company and detail for the first time the price it paid for a fledgling Sydney AI startup.
Australian design giant Canva paid $22.5 million to acquire Sydney-based advertising analytics startup MagicBrief, according to fresh corporate filings that detail a period of intense corporate activity at Australia's most valuable private tech company.
The figure, disclosed in a footnote to Canva's financial statements for the 2021 and 2022 financial years lodged with ASIC provides the first official confirmation of the acquisition price for the deal announced in June this year.
"On 10 July 2025, Canva acquired all voting equity in MagicBrief Pty Ltd for a total consideration of $22.5 million," the document states. "The acquisition of MagicBrief, a company incorporated in New South Wales, is a strategic fit, aligning with Canva Australia's long-term goals and objectives."
The ASIC filings reveal a flurry of activity at Canva as it prepares for a potential public listing next year including a consolidation into one global entity and the company organising a secondary share sale this year to allow employees to sell equity to new investors.
