Canva begins share sale at $42 billion valuation: Report

Australian graphic design platform Canva launched an employee stock sale valuing the company at $42 billion, Bloomberg News reported on Tuesday.

Reuters could not immediately verify the report. Canva did not immediately respond to a request for comment.

Company employees are able to sell shares to both new and existing investors, including Fidelity Management & Research Company and JPMorgan’s asset management division, Bloomberg said, citing a statement from Canva.

Sydney-headquartered Canva allows users to create posters, social media graphics, presentations, and more using presets, templates, and generative AI tools. It reached a peak valuation of $40 billion in late 2021.

Launched in 2013, Canva has more than 200 million monthly active users across 190 countries and reported an annualised revenue of $2.5 billion last year.