Canva now valued at $25 billion dollars
By Zion Rufus
Canva, the popular graphic design software company is currently valued at approximately $25 billion dollars according to investors, a valuation which represents a significant markdown of $14 billion from its previous highest valuation of $40 billion in September 2021.
The figures were reported by the Financial Review, indicating a shift in Canva’s market value.
During Canva’s last funding round in September 2021, its shares were valued at $1,680. This substantial valuation is a testament to the company’s growth and success in the market. Canva has experienced remarkable progress since its inception, with its first profitable year occurring in 2017 when its user base grew to 294,000 paying customers.
International fund management firm Franklin Templeton, which had previously written down the value of its Canva holdings by 67.3% in June 2021, revised its estimate of Canva’s valuation by 22% at the end of 2022. This increase indicates renewed confidence in the company’s potential.
Canva has also achieved significant milestones in terms of revenue. Currently, its estimated annual revenue stands at $1 billion, a nearly four-fold increase compared to its revenue of $291 million in 2019, as reported by Getlaka.
Since its founding in 2013, Canva has raised an impressive $560 million over 14 funding rounds. The company’s initial funding journey was challenging, with the founders being rejected by over 100 investors before securing $3 million to start building the company. Subsequent funding rounds saw injections of $40 million in 2018, $155 million in 2019, $60 million in 2020, and $200 million in 2021, as stated in Wikipedia.
Canva faces competition in the graphic design software space, primarily from established companies like Adobe and its Creative Cloud range of apps. Other notable competitors include Visme, VistaCreate (formerly Crello), and Fotor, each offering unique features and attracting millions of users.
Despite the competitive landscape, Canva has received numerous awards and accolades. It was placed third on the Forbes ‘Cloud 100’ list and fourth on CNBC’s Disruptor 50 list in 2022. The company was also named the 10th most innovative company in the world by Fast Company.
Canva’s co-founder, Melanie Perkins, envisions the company as a replacement for the use of PDF documents in the communication flow between designers and clients. Perkins emphasizes the importance of collaboration and aims to simplify the design process for organizations.
With a team of approximately 3,500 employees, Canva, often referred to as “Canvanauts,” has expanded its workforce by adding 1,000 new employees in 2022. The company has received positive reviews on Glassdoor, with an overall employer rating of 4.3 out of 5 and 87% of reviewers likely to recommend Canva to a friend.
Statistics: Style Factory
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