Canva has crafted a wildly successful business model on the idea that graphic design should be accessible to everyone. The Australian company has raised $560 million since its founding in 2012, and is currently bringing in an annualized recurring revenue of around $1.7 billion, according to co-founder and chief product officer Cameron Adams.
Canva is in 190 countries and over 100 languages, and has signed on more than 170 million active users. But despite its rapid growth and international presence, the company has taken some hits this year. A handful of Canva’s investors — like Blackbird, T. Rowe Price and Frank Templeton — marked down the company’s valuation, which had seen a peak of $40 billion after a $200 million fundraise in 2021. Blackbird’s valuation of the company dropped to $25.6 billion and T. Rowe Price’s to around $13 billion in June.