Canva’s plan to take on Microsoft, Google
Summary
“Instead of using twenty different tools to do all your work, the idea now is to have everything in one place.” Combined with Canva’s video editing and presentation tools, and alongside its printing service, Canva’s new Visual Worksuite aims to break into large organisations whose teams need to collaborate and work in a slick, cloud-based environment. We worked out what else they needed and began putting it all together.” As it stands, Canva books more than $1 billion in annual revenue thanks to its fast growth in markets like the United States, Brazil, Mexico and Indonesia. While Canva has plenty of cash on hand, its valuation has dominated headlines in recent times, when two large investors re-rated the company down on their books, a direct response to the sharp sell-off in public market technology stocks. Last year, Canva raised $US200 million at a $US40 billion valuation, at a time when high growth tech companies were fetching stunning multiples in the public markets. Since that time, interest rates have moved higher and both the public and private markets have undergone a widespread correction.
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