On January 1st, 2013, Melanie Perkins, Cliff Obrecht, and Cameron Adams established Canva in Perth, Australia. Canva had over 750,000 users in its first year of operation.Guy Kawasaki, a technology and social media guru, became a chief evangelist (or brand promoter) for the company in April 2014. Canva for Work, which specialized on marketing collateral, was introduced in 2015.
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During the 2016-17 financial year, Canva's revenue increased from A$6.8 million to A$23.5 million, with a loss of A$3.3 million. In 2017, the company reached profitability and had 294,000 paying customers.
In January 2018, Perkins announced that the company had raised A$40 million from Sequoia Capital, Blackbird Ventures, and Felicis Ventures, and the company was valued at A$1 billion. Australian superannuation funds Hostplus and Aware Super are known to be investors.
Canva saw a loss of A$3.3 million but an increase in revenue from A$6.8 million to A$23.5 million during the 2016–17 fiscal year. The business turned a profit in 2017 and had 294,000 clients who made payments.
Perkins stated in January 2018 that the firm was valued at A$1 billion and that it had raised A$40 million from Blackbird Ventures, Felicis Ventures, and Sequoia Capital.Investors include the well-known Australian superannuation funds Hostplus and Aware Super.Canva was valued at A$2.5 billion when it raised an additional A$70 million in funding in May 2019 from General Catalyst and Bond in addition to its current investors Blackbird Ventures and Felicis Ventures.That October, Canva declared that it had released an enterprise product and received an additional A$85 million at a valuation of A$3.2 billion.
Canva for Education is a free product for educational institutions like schools that aims to make it easier for instructors and students to collaborate. Canva introduced it in December 2019.Co-founders Perkins and Obrecht have already announced their intention to donate a sizable portion of their wealth to various charitable organizations.The two were included as two of Australia's ten wealthiest persons in the Australian Financial Review's AFR Rich List in 2023.
Canva released Magic Write, the AI-powered copywriting assistant on the site, on December 7, 2022. Canva unveiled its new Assistant tool on March 22, 2023. It offers suggestions for designs and visuals based on the user's current design.
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