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This Is How Canva Became A $3.2 Billion Company

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One of the most popular online graphic design platforms is Canva. It allows users to design social media graphics, posters, greeting cards, calendars, and other visual contents. This makes graphic design simple for everyone. Canva is available as a web-based and mobile application. The canva is free to use and also there is a paid subscription like Canva Pro and Canva for Enterprise. Canva is offered in over 100 languages across the globe.

 

Who Started Canva?

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Melanie Perkins, along with Clifford Obrecht and Cameron Adams founded Canva in the year 2012. She was always passionate about traveling. Her passion taught her about the challenges of people across the globe. The big challenge she found was the language barrier on the inaccessibility of online services. This gave her an idea to make canva. Melanie Perkins became one of the youngest female CEO to be leading a tech startup valued at over a billion dollars. According to Melanie,

It’s incredibly important to have a global outlook of the world we live in and be able to serve our community with products that are meaningful to them.

 

How Canva Grow?

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In 2012 when Canva was launched, within the first year Canva had more than 7,50,000 users. Incredible numbers, isn’t it? In 2015, Canva moved one step further and launched Canva for Work that gave businesses an easy to use tool for producing their designs. During the 2016-17 financial year, Canva revenue increased from $AU 6.8m to $AU 23.5m and losses of $3.3m. But in 2017, Canva reached to the profitability and had 294,000 paying customers.

 

Funding

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Melanie Perkins announced in January 2018 that Canva has raised the funding of $40 million from Sequoia Capital, Felicis Ventures, and Blackbird Ventures and it was valued at $1 billion. Also in May 2019, another round of funding was raised by Canva. It is of $70m from General Catalyst and Bond and its existing investors Felicis Ventures, and Blackbird Ventures, valuing Canva at $2.5 billion

 

Where Is Canva Today?

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In May 2019, they announced their acquisitions with the two free stock photography websites Pexels and Pixabay that are based in Germany. They allow photographers to share their work for free. The Canva users can use these photos in their designs. In October 2019, Canva announced that they have raised an additional $85 million at a valuation of $3.2 billion and they have launched an enterprise product. Today Canva has over 20 million users across 190 countries. Google also revealed that Canva is one of the best apps.

Canva has already started challenging the big graphic design giants like Adobe. Have you used this tool before? How is it? Well, we are using it for the last three years and let us tell you we are loving it.

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Praneet Samaiya
the authorPraneet Samaiya