Design Platform Canva raises $60 Mn at a whopping $6 Bn Valuation!
1 min read
Canva almost doubles its valuation from $3.2 Bn in October.
They have raised more than $300 Mn from the likes of General Catalyst, Sequoia Capital, BOND, BV & several others.
Cliff Obrecht, COO : “Investors were looking to deploy $50Mn-$100 Mn, but we said ‘Oh, gee, we really don’t want to be diluted that much because we have a lot of conviction in the biz & we don’t need that much money!”
• A rare instance in recent times when Founders have rejected ‘additional’ Capital!
Canva in FY’19 :
• Total Monthly Users : ~30 Mn
• Designs Per Minute : ~3,100!
• YoY Growth : ~100x
Designers all around the globe created 2 Bn designs via Canva!
• Founded in 2012 by Melanie Perkins to ease the process of creating Graphics for the ‘Non-Designers’, today Canva boosts presence in 190+ Countries!
Be it College Projects or Birthday Cards or even Graphics for professionals, Canva aims to be a One Stop solution for everything.
• The main challenge which Canva faces is monetizing it’s platform effectively & retaining its consumers.
They aim to expand their biz in the US & possess real challenge to Heavyweights Adobe.
Canva has really eased the process of Creating Designs, didn’t they?
Thoughts?
By: Dehit
