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Canva founders to put their billions to profit

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The founders of the billionaire Canvas are preparing to give up the majority of their wealth as the latest round of software design startups funding takes its valuation to $ 40 billion ($ 55 billion).

The Sydney-based start-up on Wednesday announced a $ 200 million capital raise, making it the most valuable private consumer software company of all time and now worth more than the giant on paper. telecommunications listed on ASX Telstra.

Co-founders Melanie Perkins and Cliff Obrecht, who tied the knot earlier this year, have a 30% stake – valued at over $ 16 billion – in Canva. Having pledged to devote a large portion of their wealth to philanthropic causes, Ms Perkins and Mr Obrecht said it struck them as odd to be called billionaires because they felt they were just the gatekeepers money.

Billions and billions of dollars is more than anyone in their lifetime, Ms. Perkins said. It’s not often that you have the right idea, at the right time with the right amazing team and with the right investors who believe in your vision.

But it’s not just a huge opportunity, we really feel like it’s a huge responsibility, a responsibility that weighs very heavily on us, and doing the most good we can do is something we think about. a lot.

Melanie Perkins, co-founder of Canva, plans to give up the majority of her fortune.

Melanie Perkins, co-founder of Canva, plans to give up the majority of her fortune. Credit:Pierre Braig

Canvas’s fundraising was led by investment firms T. Rowe Price, Franklin Templeton, Sequoia, Bessemer Venture Partners, Greenoaks Capital, Dragoneer, Felicis Ventures and Australian venture capital firms Blackbird Ventures and AirTree Ventures.

Having more than doubled in value since its previous fundraiser in April, it is now the fifth most valuable startup in the world after owner of TikTok ByteDance, fintech payments Stripe, space travel firm Elon Musks SpaceX and Buy now pay the Klarna Bank company later, according to data from research firm CB Insights.

Canva was launched by Ms. Perkins, Mr. Obrecht, and Cameron Adams in 2013 with the goal of making it easy for anyone to design products such as greeting cards, posters, websites, and presentation slides.

Eight years later, the high-flying startup has 60 million users in 190 countries and claims to have an annualized revenue of $ 700 million.

Sources

1/ https://Google.com/

2/ https://www.smh.com.au/business/entrepreneurship/bigger-than-telstra-canva-s-valuation-doubles-in-five-months-to-55-billion-20210915-p58rq1.html

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