Canva is now valued at $40 billion following a fresh capital injection of $200 million (USD) in a round led by T. Rowe Price. New and existing investors participated in the round, including Franklin Templeton, Sequoia Capital Global Equities, Bessemer Venture Partners, Greenoaks Capital, Dragoneer Investments, Blackbird, Felicis and AirTree Ventures.
This round solidifies Canva as one of the most valuable private software companies out there, and it also propels the Australian tech scene forward.
Cofounder and CEO Melanie Perkins and her team started working on Canva in 2012, and launched the product in 2013. The premise behind it was relatively simple, but the technology itself… not so much.
Canva allows anyone to design. Presentations, t-shirts, brochures, flyers… you name it. The first step in this is creating a truly simple user interface, where folks can simply drag and drop components into their designs, complete with hundreds of thousands of templates, without doing a lot of fine tuning. The second step is creating a massive library of content, from fonts to templates to imagery, gifs and videos. The third step is to make that product accessible to everyone, whether it’s a platform or device or language or price.
Going after everyone, instead …read more
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