Graphic design platform Canva is now valued at $40 billion following a capital injection of $200 million in a round led by T. Rowe Price. For reference, Canva’s valuation stood at $3.2 billion less than two years ago. Bravo!
Who is affected🤷: The $40 billion valuation makes the Australian-born startup the most valuable female-founded & female-led startup in the world, as well as the fifth-most valuable private startup in the world, edging Instacart’s $39 billion valuation. If you’re wondering who tops the most valuable private startup list, well it’s no other than TikTok’s creator ByteDance, reportedly valued between $300-$400 billion!
Why is this important🤔: Canva has 60+ million monthly active users in 190 countries, companies like Salesforce, Marriott, and PayPal all use its enterprise plan. More than 20 million users sign in to Canva each month across 190 countries, with 85% of Fortune 500 companies using the product, according to the company. Canva plans to use the funding to double its current 2000-person workforce, & expand into web design and video editing tools.