Canva hits 21 million paid subscribers
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The news: Canva co-founder Melanie Perkins revealed that the design giant now has 21 million paid subscribers during her key note speech at SXSW Sydney 2024, at a time when anticipation is building towards its initial public offering.
The numbers: As of September, Canva has 21 million monthly paid subscribers and its annualised revenue was USD2.4 billion ($3.5 billion) as of July.
Perkins also highlighted the company's push into the education sphere, announcing 80 million users from 12,000 school districts and 120 universities.
The context: Valued at USD26 billion, Canva's leaders have said the company will float on the pubic market but have yet to specify when. An IPO is expected sometime before the end of 2026.
On the way there the company is pushing into enterprise customers in an attempt to ratchet up paid subscribers and revenue.
In July, Canva struck a deal to buy generative artificial intelligence platform Leonardo.Ai for an unspecified amount.
The source: SXSW Sydney
