Design software startup Canva is nearing a deal that lets longtime employees and investors at the company sell more than $1 billion in stock to new investors, people familiar with the matter said, less than six months after the private Australian firm arranged a similar, though smaller, transaction.
Canva won’t raise any money for itself in the deal, which values the startup at $26 billion, about the same price at which investors sold shares last year. That would make it one of the largest in a string of deals by high-profile private tech firms lately, including artificial intelligence startup OpenAI and cloud-server provider CoreWeave, as well as Elon Musk’s rocket company, SpaceX.