Canva

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Canva Pty Ltd
TypePrivate
Industry
Founded2013
Founders
Headquarters,
Australia
Area served
Worldwide
ProductsCanva, Canva Pro, Canva for Enterprise, Canva for Education, Canva for Nonprofits
Number of employees
2,000[1] (September 2021)
ParentCanva Inc.[2]
Subsidiaries
Websitewww.canva.com
Canva
Canva home page screenshot 2022.png
Home screen of the free version of Canva
Developer(s)Canva Pty Ltd
Initial releaseAugust 2013; 9 years ago (2013-08)
Operating systemWeb, Windows, Mac, Android, iOS
Available in100 languages[3]
TypeGraphics software
LicenseSaaS
Websitewww.canva.com

Canva is an Australian graphic design platform, used to create social media graphics, presentations, posters, documents and other visual content.[4][5][6] The app includes templates for users to use. The platform is free to use and offers paid subscriptions such as Canva Pro and Canva for Enterprise for additional functionality.[7] In 2021, Canva launched a video editing tool.[8] Users can also pay for physical products to be printed and shipped.[9]

In June 2020, Canva raised A$60 million at a valuation of A$billion; almost doubling its 2019 valuation.[10][11] In September 2021, Canva raised US$200 million and announced a valuation of US$40 billion.[12][13]

History[edit]

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.[14] In April 2014, social-media and technology expert Guy Kawasaki joined the company as chief evangelist (brand promoter).[15] In 2015, Canva for Work was launched, focusing marketing materials.[16]

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.[17]

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.[18][19][17]

During 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.[20] In October 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.[10]

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.[21]

In June 2020, Canva announced a partnership with FedEx Office[22] and with Office Depot the following month.[23] As of June 2020, Canva's valuation had risen to A$6 billion.[24] This valuation grew to A$40 billion in September 2021,[25] with co-founders Perkins and Obrecht announcing their plan to give away much of their fortune to numerous philanthropic causes.[26]

Data breach[edit]

In May 2019, Canva experienced a data breach in which data of roughly 139 million users were hacked.[27] The exposed data included real names of users, usernames, addresses and geographical information, and password hashes for some users.[28] Canva faced criticism for an initial email to customers, which buried the details below self-congratulatory marketing content.[29][30] Later in January of 2020 approximately 4 million user passwords were decrypted and shared online.[31] Canva responded by resetting the passwords of every user who had not changed their password since the initial breach.

Acquisitions[edit]

In 2018, the company acquired presentations startup Zeetings for an undisclosed amount, as part of its expansion into the presentations space.[32]

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.[33]

In February 2021, Canva acquired Austrian startup Kaleido.ai and the Czech-based Smartmockups.[34]

See also[edit]

References[edit]

  1. ^ Konrad, Alex (14 September 2021). "Canva Raises At $40 Billion Valuation — Its Founders Are Pledging Away Most Of Their Wealth". Forbes.
  2. ^ "CANVA PTY Ltd | OpenCorporation".
  3. ^ "Canva". www.canva.com.
  4. ^ Perez, Sarah (26 August 2013). "Canva Launches A Graphic Design Platform Anyone Can Use". Tech Crunch'. Archived from the original on 2 September 2019.
  5. ^ 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.
  6. ^ Swallow, Erica (18 November 2013). "Canva Makes Great Design More Accessible". Forbes. Archived from the original on 16 August 2018.
  7. ^ Reuter, Dominick (10 January 2020). "5 apps entrepreneurs can use right now". Business Insider. How much it costs: Pro, $120/year per user; Enterprise, $360/year per user; free and discounted accounts available for nonprofits and educators.
  8. ^ "Canva is getting into video". TechCrunch. Retrieved 9 November 2021.
  9. ^ Castles, Angela. "Canva gets physical with 'Canva Print' to cement US foothold". SmartCompany. Retrieved 6 February 2020.
  10. ^ a b Cook, Jordan. "Canva, now valued at $3.2 billion, launches an enterprise product". TechCrunch. Retrieved 6 February 2020.
  11. ^ "Canva raises $60 million at valuation of $6 billion". Bloomberg. 22 June 2020. Retrieved 24 June 2020.
  12. ^ Konrad, Alex. "Canva Raises At $40 Billion Valuation — Its Founders Are Pledging Away Most Of Their Wealth". Forbes. Retrieved 19 September 2021.
  13. ^ "Canva: Australian online design platform valued at $40bn". BBC News. 15 September 2021. Retrieved 13 January 2022.
  14. ^ Campbell, Rebekah (15 September 2014). "The Problem With Going Into Business With a Friend". The New York Times. Archived from the original on 21 December 2014. Retrieved 21 December 2014.
  15. ^ Pankaj, Mishra. Canva Raises $3 Million To Make Design Accessible To Everyone Archived 30 March 2019 at the Wayback Machine Tech Crunch. 16 April 2014.
  16. ^ "Graphic design startup Canva just turned into a unicorn". Fast Company. 8 January 2018. Archived from the original on 27 June 2018. Retrieved 27 June 2018.
  17. ^ a b "New Sequoia China investment values Australian design company Canva at $1 billion – TechCrunch". techcrunch.com. Archived from the original on 27 June 2018. Retrieved 27 June 2018.
  18. ^ Stanton, Kate; Griffith, Hywel (9 January 2018). "The 30-year-old woman who designed a $1bn business". BBC News. Archived from the original on 28 July 2018. Retrieved 9 January 2018.
  19. ^ Chau, David (9 January 2018). "Canva: Online design startup joins generally overvalued 'unicorn' club". ABC News. Australia. Archived from the original on 12 January 2018. Retrieved 9 January 2018.
  20. ^ Clark, Kate. "Graphic design platform Canva valued at $2.5B with new funds". TechCrunch. Archived from the original on 27 June 2019. Retrieved 2 July 2019.
  21. ^ Hennessy, James (6 December 2019). "Canva has announced a slew of new products, including a video editing tool and an education offering". Business Insider Australia.
  22. ^ Crook, Jordan (17 June 2020). "Canva design platform partners with FedEx Office as it pushes further into the US". TechCrunch.
  23. ^ "Office Depot Enhances Print Services Portfolio with New Graphic Design Solutions Powered by Canva". Bloomberg. 16 July 2020.
  24. ^ Tse, Crystal; Roof, Katie; Tan, Gillian; Lee, Yoolim (22 June 2020). "Australia's Canva Startup Almost Doubles Valuation to $6 Billion". Bloomberg.
  25. ^ "Canva: Australian online design platform valued at $40bn". BBC. 16 September 2021. Retrieved 20 September 2021.
  26. ^ "Canva founders to give $16.5b fortune away". Australian Financial Review. 14 September 2021. Retrieved 19 September 2021.
  27. ^ "Australian tech unicorn Canva suffers security breach". ZDNet. Retrieved 7 December 2019.
  28. ^ "139 Million Users Hit in Canva Data Breach". Tom's Guide. 24 May 2019. Retrieved 7 December 2019.
  29. ^ Smith, Paul. "Canva criticised after data breach exposed 139m user details". Retrieved 5 September 2020.
  30. ^ Palmer-Derrin, Stephanie. ""Marketing fluff": What startups can learn from Canva's data-breach response". Retrieved 5 September 2020.
  31. ^ "Canva Security Incident – May 24 FAQs". Canva. 17 January 2020. Retrieved 16 August 2022.{{cite web}}: CS1 maint: url-status (link)
  32. ^ Powell, Dominic. "SmartCompany". Retrieved 6 February 2020.
  33. ^ Jonathan, Shieber. "Australia's design unicorn, Canva, picks up two free image-sharing services, and launches new photo product". TechCrunch. Retrieved 10 December 2019.
  34. ^ 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.

External links[edit]