Australian Software Firm Canva Nears $1.5B Share Sale, Valuing Company at $26B

Australian software company Canva Inc. is reportedly nearing the completion of a share sale that is set to raise over $1.5 billion, according to sources familiar with the matter. The sale, led by a group of investors including current and former employees, would value Canva at approximately $26 billion, which is consistent with its previous valuation. Although Canva is working with Goldman Sachs on the round, it is not seeking fresh capital. While these details are not public yet, Canva is said to have generated annualized revenue exceeding $2 billion in 2023. Canva has been intensifying its competition with Adobe Inc., as both companies introduced artificial intelligence features last year. The share sale by Canva comes at a time when it seeks to expand its user base and capture larger enterprise customers. With 170 million monthly active users in 190 countries, Canva has gained popularity among smaller businesses and has recently attracted the attention of larger firms such as FedEx, Starbucks, and Zoom.