If a private company's valuation grows, but nobody uses it, did it even go up? It was a question we found ourselves asking recently following news of Canva's much-publicised "new valuation".
Last week, the design software company gloated that its valuation had risen by $US6 billion ($9.1 billion) to $US32 billion after an undisclosed number of shares changed hands — the equivalent of marking your own homework and then giving yourself a prefect's award for it.
When it was announced there were no details on who was buying, who was selling, or at what volumes, but Capital Brief has confirmed the seller for last week's secondary sale Hostplus.
"Hostplus has marginally reduced its holdings in Canva, capitalising on the premium return this opportunity presented," a spokesperson for the super fund told Capital Brief. "However, it continues to maintain significant exposure to the company due to the ongoing value and potential for risk-adjusted returns it offers our members."
