Canva

Last updated

Canva Pty Ltd
Company type Private
Industry
Founded2013;11 years ago (2013)
Founders
Headquarters
Sydney
,
Australia
Area served
Worldwide
ProductsCanva, Canva Pro, Canva for Enterprise, Canva for Education, Canva for Nonprofits
RevenueIncrease2.svg US$2 billion (2023) [1]
Members100 million users [2]
Number of employees
3,500 [3]  (2023)
Parent Canva Inc. [4]
Subsidiaries
Website www.canva.com
Canva
Developer(s) Canva Pty Ltd
Initial releaseAugust 2013;10 years ago (2013-08)
Operating system Web application, Android, ChromeOS, iOS, iPadOS, Linux, macOS, Windows
Available in100 languages [5]
List of languages
Afrikaans, Albanian, Arabic, Armenian, Assamese, Azerbaijani, Basque, Bengali, Bulgarian, Burmese, Catalan, Cebuano, Croatian, Czech, Danish, Dutch, English, Estonian, Finnish, French, Fulani, Galician, Georgian, German, Greek, Gujarati, Hausa, Hebrew, Hindi, Hungarian, Igbo, Indonesian, Italian, Japanese, Javanese, Kannada, Kazak, Khmer, Korean, Kurdish, Kyrgyz, Latvian, Lithuanian, Macedonian, Maithili, Malay, Malayalam, Marathi, Mongolian, Nepali, Norwegian, Oromo, Persian, Polish, Portuguese, Punjabi, Romanian, Russian, Serbian, Shona, Simplified Chinese, Sindhi, Sinhala, Slovak, Slovenian, Somali, Spanish, Strayan, Sundanese, Swahili, Swedish, Tagalog, Tamil, Telugu, Thai, Traditional Chinese, Turkish, Ukrainian, Urdu, Uzbek, Vietnamese, Welsh, Wolof, Xhosa, Yoruba and Zulu
Type Graphics software, Whiteboarding
License SaaS
Website www.canva.com

Canva is a graphic design platform that provides tools for creating social media graphics, presentations, promotional merchandise and websites. [6] [7] [8] . Launched in 2013, the service is designed to allow both individuals and companies to design and publish a variety of media. Its offerings include templates for presentations, posters, and social media content, as well as functionalities for photo and video editing.

Contents

The platform uses a drag-and-drop interface intended to simplify the design process. Canva operates on a freemium model and has expanded its services over the years to include features like a print product platform and a video editing tool.

History

Canva was founded in Perth, Australia, by Melanie Perkins, Cliff Obrecht and Cameron Adams on 1 January 2013. In its first year, Canva had more than 750,000 users. [9] In April 2014, social media and technology expert Guy Kawasaki joined the company as its chief evangelist (brand promoter). [10] In 2015, Canva for Work was launched, focusing on marketing materials. [11]

During the 2016-17 financial year, Canva's revenue increased from A$6.8 million to A$23.5 million, with a loss of A$3.3 million. In 2017, the company reached profitability and had 294,000 paying customers. [12]

In January 2018, Perkins announced that the company had raised A$40 million from Sequoia Capital, Blackbird Ventures, and Felicis Ventures, and the company was valued at A$1 billion. [13] [14] [12] Australian superannuation funds Hostplus and Aware Super are known to be investors. [15]

In May 2019, the company raised another round of funding of A$70 million from General Catalyst and Bond and its existing investors Blackbird Ventures and Felicis Ventures, valuing Canva at A$2.5 billion. [16] In October of that year, Canva announced that it had raised an additional A$85 million at a valuation of A$3.2  billion and launched an enterprise product. [17]

In December 2019, Canva announced Canva for Education, a free product for schools and other educational institutions intended to facilitate collaboration between students and teachers. [18]

In June 2020, Canva announced a partnership with FedEx Office [19] and with Office Depot the following month. [20] As of June 2020, Canva's valuation had risen to A$6 billion, rising to A$40 billion by September 2021. [21] [22] In September 2021, Canva raised US$200 million, with its value peaking that year at US$40 billion. [23] [24] By September 2022, the valuation of the company had leveled at US$26 billion. [25] While its value had fallen significantly, perhaps as much as 35% from its 2021 high to mid 2022, it was still known as a "darling" of the Australian tech sector, along with Atlassian. [15] [26] In March 2022, Canva had over 75 million monthly active users. [27]

Co-founders Perkins and Obrecht have already disclosed their plan to give away much of their fortune to numerous philanthropic causes. [28] In 2023, the pair were named in the Australian Financial Review's AFR Rich List as among the 10 most wealthy people in Australia. [29]

On December 7, 2022, Canva launched Magic Write, which is the platform’s AI-powered copywriting assistant. [30] On March 22, 2023, Canva announced its new Assistant tool, which makes recommendations on graphics and styles that match the user's existing design. [31] On January 11, 2024, Canva launched its own GPT in OpenAI's GPT Store. [32]

In March 2024, Canva finalised a share sale at a flat valuation of $US26 billion ($39.4 billion) for the company, with buyers wanting $US2.4 billion ($3.6 billion) in shares but purchasing about $US1.6 billion ($2.4 billion) in that tranche. [33]

The company has announced it intends to compete with Google and Microsoft in the office software category with website and whiteboard products. [25]

In May 2024, the company announced the launch of Canva Enterprise, a plan designed for large organizations, alongside new tools including Work Kits, Courses and AI capabilities. [34]

Data breach

In May 2019, Canva experienced a data breach in which the data of roughly 139 million users was hacked. [35] The exposed data included real names of users, usernames, email addresses, geographical information, and password hashes for some users. [36] Later in January 2020, approximately 4 million user passwords were decrypted and shared online. [37] Canva responded by resetting the passwords of every user who had not changed their password since the initial breach.

Acquisitions

In 2018, the company acquired presentations startup Zeetings for an undisclosed amount, as part of its expansion into the presentations space. [38]

In May 2019, the company announced the acquisitions of Pixabay and Pexels, two free stock photography sites based in Germany, which enabled Canva users to access their photos for designs. [39]

In February 2021, Canva acquired Austrian startup Kaleido.ai and the Czech-based Smartmockups. [40]

In March 2024, Canva acquired UK-based Serif, the developers of the Affinity suite of graphic design software, for approximately $380 million. [41] [42]

See also

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References

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  4. ↑ "CANVA PTY Ltd | OpenCorporation". Archived from the original on 12 December 2021. Retrieved 12 December 2021.
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  7. ↑ Lancet, Yaara; Zukerman, Erez (7 January 2014). "Canva review: Free tool brings much-needed simplicity to design process". PC World . Archived from the original on 21 December 2014.
  8. ↑ Swallow, Erica (18 November 2013). "Canva Makes Great Design More Accessible". Forbes . Archived from the original on 16 August 2018.
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  15. 1 2 "Blackbird reveals Canvas' $14b plunge in value". Australian Financial Review. 26 July 2022. Archived from the original on 24 January 2023. Retrieved 24 January 2023.
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  29. ↑ "The 200 richest people in Australia revealed". Australian Financial Review. 24 May 2023. Archived from the original on 6 June 2023. Retrieved 25 September 2023.
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  31. ↑ Malik, Aisha (23 March 2023). "Canva unveils a series of new features, including several AI-powered tools". TechCrunch. Archived from the original on 13 April 2023. Retrieved 13 April 2023.
  32. ↑ Hollander, Roger (13 January 2024). "The Most Popular GPTs in the OpenAI GPT Store". GPTReview.
  33. ↑ "Canva millionaires made as $US1.6b share sale completes". Australian Financial Review. 4 April 2024. Retrieved 22 May 2024.
  34. ↑ Wood, Chris (23 May 2024). "Canva Introduces Canva Enterprise, Work Kits and adtech apps". MarTech.{{cite web}}: CS1 maint: url-status (link)
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  36. ↑ "139 Million Users Hit in Canva Data Breach". Tom's Guide. 24 May 2019. Archived from the original on 21 January 2021. Retrieved 7 December 2019.
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  38. ↑ Powell, Dominic. "SmartCompany". Archived from the original on 12 January 2021. Retrieved 6 February 2020.
  39. ↑ Jonathan, Shieber (17 May 2019). "Australia's design unicorn, Canva, picks up two free image-sharing services, and launches new photo product". TechCrunch. Archived from the original on 1 May 2023. Retrieved 10 December 2019.
  40. ↑ Lee, Yoolim (22 February 2021). "Australia's Canva Buys European Design Startups to Fuel Growth". Bloomberg.com. Archived from the original on 22 February 2021. Retrieved 23 February 2021.
  41. ↑ Bonyhady, Nick (26 March 2024). "Canva's billion-dollar bet on a 37-year-old Nottingham company". Australian Financial Review . Retrieved 26 March 2024.
  42. ↑ Miller, Ron (26 March 2024). "With Affinity acquisition, Canva should be able to compete better with Adobe's creative tools". TechCrunch.
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