Canva launches share sale at $65b valuation
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The news: Canva launched an employee share sale on Wednesday, valuing the company at $65.3 billion ahead of a reported IPO later this year.
The numbers: A statement shared by Canva says the company has more than 240 million monthly active users, USD3.3 billion ($5.13 billion) in annualised revenue, 27 million paid seats, strong cash reserves, and has been profitable for the last eight years.
The share sale boosts Canva’s valuation by over 30% after reaching a valuation of USD32 billion in 2024.
Details of the number of shares to be sold were not revealed.
The context: Employees will be able to sell stock to new and existing investors, including Fidelity Management & Research and JP Morgan’s asset management arm.
The company has invested heavily in AI features across its design tool suite in efforts to boost revenue growth ahead of a possible IPO later this year.
What they said: “We’re proud to be one of the most widely used platforms on the internet, with more than 240 million people designing with Canva each month,” said Cliff Obrecht, Canva co-founder and COO.
Obrecht said that this round was significantly oversubscribed, and that “The overwhelming demand from both new and existing investors is a huge vote of confidence in our momentum and the scale of what still lies ahead.”
"Identifying companies that can provide investors with pivotal exposure to breakthrough work in AI is an important pillar of our research in active management," said Felise Agranoff, a portfolio manager at a JP Morgan Asset Management arm.
The source: Canva statement
