Canva planning US$1b secondary stock sale: The Information
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The news: Australian design software startup Canva is preparing a deal to allow employees and early investors to sell more than USD1 billion ($1.5 billion) of their stock, The Information reports.
The numbers: The deal is aimed at freeing up liquidity for shareholders rather than for raising funds at the company, recently valued at about USD26 billion. The private company has reported annualised revenue of USD2 billion. At a similar but smaller fundraising in 2021, Canva was valued at USD40 billion.
The context: Private deals have been growing in popularity with private tech firms wanting to delay their public listing or find alternative streams of revenue against a softer IPO market.
The source: The Information
