Canva's Billionaire Founders Are Minting Overnight Millionaires with Employee Share Sale

Canva's billionaire founders are minting overnight millionaires with employee share sale

Some Canva employees will become overnight millionaires after the software maker launched an employee share sale valuing the company at $42 billion this week. The Sydney-based company cofounded by an Australian billionaire couple said it hit $3.3 billion in annualized revenue thanks to 27 million paid users. The tender offer hints at a potential IPO within the next year, experts tell Fortune. Some past and present Canva employees will soon be ov…

Canva Starts Share Sale at $42 Billion Valuation as it Bets on its AI Products for Growth

In April, Canva introduced new products, such as a conversation-based AI photo editor, aiming to attract corporate clients away from its competitor, Adobe. Canva launched an employee stock sale at a $42 billion valuation. This milestone shows that there is a rapid growth for the Australian design software company, which is betting on artificial intelligence for its growth. Canva has also introduced AI features into its platform to automate desig…