CANVA: A Multi-Billion Dollars Company | How it Originated?

CANVA: A Multi-Billion Dollars Company | How it Originated?

  1. Canva is a graphic design platform, used to create social media graphics, presentations, posters, documents, and other visual content.
  2. It is home to thousands of templates, photos, and icons wherein users can easily drag and drop.
  3. Canva’s wide array of features allow you to edit photos without extensive photo editing knowledge or experience.
  4. The platform is free to use and offers paid subscriptions like Canva Pro and Canva for Enterprise for additional functionality.
  • HOW IT ORIGINATED?
  1. The Canva journey began back in 2007 when Melanie Perkins was studying at the University of Western Australia
  2. Melanie tutored other students on how to use traditional design programs such as InDesign and Photoshop, but they found the software hard to learn and use.
  3. That was when she knew that the future of design was going to need to be online, collaborative, and very simple to use.
  4. Melanie and her partner Cliff Obrecht launched a website that lets students collaborate and design their yearbooks online. After it kept growing for a few years they decided to launched Canva to the world in 2013.
  • CANVA’S GROWTH DURING LOCKDOWN
  1. Amidst the lockdown, Australian online design platform Canva has hit US$6 billion evaluation after completing a US$60 million funding raise.
  2. The valuation has doubled from US$3.2 billion, with the company attributing the lift to its growing prominence as a workplace collaboration platform and strong user growth during the COVID-19 pandemic
  3. More than 30 million people worldwide now use Canva for design purposes 80 designs are now completed per second, with a total of 3 billion designs created since the platform launched in 2012.
  • CANVA VALUED AT $40 BILLION
  1. Canva recently got valued at $40 billion (Β£29bn) which the company believes is a direct result of the pandemic.
  2. The firm said it had grown its customer base to over 60 million users in 190 countries and was on track to post $1bn revenue By the end of the year.
  3. Analysts believe this new announcement has put Canva on the list of the world’s most valuable start-ups. It is now the fifth most valuable start-up in the world.
  4. This also takes one of its co-founders in the list of the top 10 richest people in Australia.
  5. The co-founders also decided to donate nearly 30 percent of their company’s wealth to charitable causes in the future.

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