Morningstar

Design Software Company Canva Valued at $42 Billion Ahead of Possible IPO

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Design software company Canva has launched a share sale program, which values it at $42 billion ahead of a potential IPO. Bloomberg reported that Fidelity Management is leading the program, which is focused on employees. New investor J.P. Morgan Asset Management is also participating.

Canva was founded in 2012, and the Sydney-based company’s online design and publishing tool is used in 190 countries, with over 240 million monthly active users and around $3 billion in annualized revenue. It is Australia’s most valuable VC-backed company, counting T. Rowe Price, Sequoia, and Bessemer Venture Partners among its investors. Before this round, it was valued at $32 billion in 2024, down from $40 billion in 2021.

The number of shares to be sold was undisclosed, but previous reports stated that the company was looking to sell up to $500 million worth. Canva’s IPO has been widely anticipated, with reports suggesting it could happen in 2025. Last year, it hired Kelly Steckelberg as CFO, five years after she helped take Zoom public in the same role. The company has also been expanding into AI-powered tools to drive growth ahead of a listing.

Canva’s US-based rival, Figma, went public last month, reaching a market cap of $47.9 billion on its first day of trading. Shares popped 250% from their listing price of $33.

Editor’s Note: This article was originally published on PitchBook.com.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies.

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