Photo credit: Canva
Canva, an Australia-based design software company, is close to concluding a share sale by investors, which include past and present staff, Bloomberg reported. The sale is expected to raise over US$1.5 billion in proceeds.
Following the transaction, the company will likely maintain the US$26 billion valuation from its previous fundraise. This round, which raises no new capital, is run by Goldman Sachs. Details of the deal may change as talks are ongoing.
Last year, Canva’s annualized revenue exceeded US$2 billion, according to Bloomberg’s sources. The platform, which focuses on making graphics design easy for non-professionals, has 170 million monthly active users across 190 countries. It also has big corporate clients like FedEx, Starbucks, and Zoom.
Canva’s existing investors include VC firm Blackbird Ventures, alternative asset manager Franklin Templeton, and private equity company Bessemer Venture Partners.
In 2022, Canva acquired Flourish, an online tool for designing charts, for an undisclosed sum.
See also: A profitable Malaysian startup is taking on Adobe and Canva
This article was written with the help of AI.
Editing by Lorenzo Kyle Subido
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