Canva hits $40 billion globally

Canva hits $40 billion globally

“The best way to predict the future is to create it.”

These words by Abraham Lincoln are undoubtedly something that entrepreneurs tend to go by and make up their mantra in life. But often by the dint of the sheer hard work they are often able to miraculously create the entirely unexpected, and unpredictable. One such instance is the journey of Melanie Perkins from being a young student majoring in communications to becoming the CEO of a business enterprise that is currently valued at 40billion dollars. As a young girl of fourteen, Perkins dreamed of having an exciting business career and first ventured out to sell handmade scarves. Today, she is the second richest woman in Australia.

Among business news that has captivated significant global attention is the rise of Canva Inc.’s valuation up to $40 billion, which probably happened as a consequence of their raising of a fresh capital amount of $200million.

Let us look at the kind of changes brought about by this $40 billion valuation hit of the Australian design company, Canva in its global positions. Here’s the news about Canva which you just can’t afford to miss!

Just five months back, Canva’s valuation was at $15 billion when it managed to raise to $71 billion steadily. Manifesting an alarming and Inspiron growth, this app has changed the game and tripled in global valuation in less than a span of half a year. Founded by Perkins, in 2013, in collaboration with Clifford Obrecht and Cameron Adams, this app intended for amateur designers is today available in 100 languages and it currently ranks fifth in a list of the World’s most valuable startups. Canva’s global rank is positioned after ByteDance Ltd., Stripe Inc., SpaceX and Klarna Bank AB according to the recent reports.

Here’s a trajectory of Canva’s growth in recent years:

  • January 2018: $1 billion
  • May 2019 : $2.5 billion
  • October 2019: $3.2 billion
  • June 2020: $6 billion
  • April 2021: $15 billion
  • September 2021: $40 billion

The current CEO of Canva and one of its founders Melanie Perkins, already mentioned here previously had also qualified for her Forbes 30 Under 30 Interview.

However, this is not the first time that Canva has created news with its valuation increment of 40 billion dollars. Back in May 2019, this designing app had experienced a data breach in which a huge chunk of their data was hacked. However, Canva tackled the crisis with firm resilience and the trajectory of their outstanding global growth testifies the same. A kitesurfer by interest, Melanie Perkins had always intended to launch an app that does not require the technical designing skills of the user.

Modelled on this design, Canva has over 60 million users now in a month and more than 500000 paying teams.

Now evaluated at $40 billion globally, some of the future plans of Canva include its involvement in a charitable donation of $10 million to help some underprivileged families in Southern regions of Africa, and its ambition to become one of the most valuable companies in the world. CEO Perkins further asserts that although they are on the right track, Canva isn’t there yet.

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