Counting on Canva
With 240 million users and booming revenue, Canva’s momentum is clear. But next to Big Tech’s towering numbers, there's still plenty we don't know.
Speaking to a crowd of more than a thousand at the Google Cloud Summit in Sydney on Wednesday, Canva co-founder Cliff Obrecht reported that the design giant now has 240 million customers around the world.
“Tiny numbers compared to Google,” he said with a smile. "But we’re pretty proud of them.”
The past week has shown the truth behind that joke. It’s hard to parse the US earnings season without being staggered by the enormous figures posted by the country’s tech giants, all of which are growing thanks to artificial intelligence.
Alphabet last week reported quarterly revenue up double digits to USD96 billion ($148 billion). This morning, Meta said efficiencies in its fast-growing ad business pushed profit up 36% to USD18.3 billion. Meanwhile, Microsoft’s Azure cloud computing grew 39%, and the company will likely open tomorrow’s trading day with a market cap of USD4 trillion.
