The company’s share sale, involving a group of investors, including current and former employees, would value Canva at approximately $26 billion, mirroring its previous round. Canva is collaborating with Goldman Sachs Group Inc. on the round, emphasizing that it is not raising new capital.
In 2023, Canva reportedly generated over $2 billion in annualized revenue, as revealed by undisclosed sources. Ongoing deliberations may lead to changes in details, with representatives for Canva and Goldman Sachs choosing not to comment.
The round occurs amid heightened competition between Canva and Adobe Inc., both incorporating artificial intelligence features. Notably, Adobe faced setbacks in December with the collapse of its $20 billion deal to acquire Figma, a rival.
Since its 2013 inception, Canva’s platform has gained popularity among smaller companies and Gen Zs, expanding to attract larger enterprise customers like FedEx Corp., Starbucks Corp., and Zoom Video Communications Inc. The all-in-one design product boasts 170 million monthly active users across 190 countries, backed by investors such as Franklin Templeton, Bessemer Venture Partners, and Blackbird Ventures.