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Canva

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Canva Pty Ltd
Company typePrivate
Industry
Founded2012
Founders
Headquarters
Sydney
,
Australia
Area served
Worldwide
Key people
Melanie Perkins (CEO)
ProductsCanva, Canva Pro, Canva for Enterprise, Canva for Education
Revenue2,000,000,000 United States dollar (2023) Edit this on Wikidata
Number of employees
1,157[1] (August 2020)
Websitecanva.com
Canva
Available in100 languages
List of languages
Afrikaans, Albanian, Arabic, Armenian, Assamese, Azerbaijani, Basque, Bengali, Bulgarian, Burmese, Catalan, Cebuano, Croatian, Czech, Danish, Dutch, English,Estonian, Farsi, Finnish, French, Fulani, Galician, Georgian, German, Greek, Gujarati, Hausa, Hebrew, Hindi, Hungarian, Igbo, Indonesian, Italian, Japanese, Javanese, Kanada, Kazak, Khmer, Korean, Kurdish, Kyrgyz, Latvian, Lithuanian, Macedonian, Maithili, Malay, Malayalam, Marathi, Mongolian, Nepali, Norwegian, Oromo, Polish, Portuguese, Punjabi, Romanian, Russian, Serbian, Shona, Simplified Chinese, Sindhi, Sinhala, Slovak, Slovenian, Somali, Spanish, Strayan, Sundanese, Swahili, Swedish, Tagalog, Tamil, Telugu, Thai, Traditional Chinese, Turkish, Ukrainian, Urdu, Uzbek, Vietnamese, Welsh, Wolof, Xhosa, Yoruba and Zulu[2]

Canva is a graphic design platform that allows users to create social media graphics, presentations, posters, documents and other visual content.[3][4][5]

Users can choose from many professional designed templates, and edit the designs and upload their own photos through a drag and drop interface. The platform is free to use and offers paid subscriptions like Canva Pro and Canva for Enterprise for additional functionality.[6] Users can also pay for physical products to be printed and shipped.[7]

As of 2019, Canva raised at a $3.2 billion valuation and had over 20 million users across 190 countries.[8]

In June 2020, Canva raised $60 million at a valuation of $6 billion. This almost doubled its last valuation in 2019. [9]

History

File:Teamcanva.jpg
Canva Sydney team

Canva was founded in Sydney, Australia by Melanie Perkins, Cliff Obrecht and Cameron Adams on 1 January 2012. In its first year, Canva had more than 750,000 users.[10] In April 2014, social-media and technology expert Guy Kawasaki joined the company as chief evangelist.[11] In 2015, Canva for Work was launched, giving businesses a tool for creating marketing materials.[12]

During the 2016-17 financial year, Canva's revenue increased from $AU 6.8m to $AU 23.5m, with a loss of $3.3m. In 2017, the company reached profitability and had 294,000 paying customers.[13]

In January 2018, Perkins announced that the company had raised $40 million from Sequoia Capital, Blackbird Ventures, and Felicis Ventures, and the company was valued at $1 billion.[14][15][13]

In May 2019, Canva experienced a security breach in which data of roughly 139 million users was hacked.[16] The exposed data included real names of users, usernames, addresses and geographical information, and password hashes for some users.[17]

During May 2019, the company raised another round of funding of $70m from General Catalyst and Bond and its existing investors Blackbird Ventures and Felicis Ventures, valuing Canva at $2.5 billion.[18]

It was reported that Canva, among other Australian businesses, supported employees attending the Global Climate Strikes that took place on September 20 and 27, 2019. The strikes called for the Australian Government to take greater action on climate change and transition to renewable energy.[19]

In October 2019, Canva announced that it had raised an additional $85 million at a valuation of $3.2 billion, and launched an enterprise product.[8]

In December 2019, Canva announced Canva for Education, a free product for schools and other educational institutions intended to facilitate collaboration between students and teachers.[20]

In January 2020, Canva received praise for releasing a comprehensible privacy policy written in both Legal English and common language, with the intention of abiding by their brand mission of simplicity while making their practices understandable to everyday users.[21]

In June 2020, Canva announced a partnership with FedEx Office.[22] In July, it announced a similar partnership with Office Depot.[23] As of the end of June, Canva's valuation had risen to $6 billion.[24]

Acquisitions

In 2018, the company acquired presentations startup Zeetings for an undisclosed amount, as part of its expansion into the presentations space.[25]

In May 2019, the company announced the acquisitions of Pixabay and Pexels, two free stock photography sites based in Germany.[26] These two companies allow independent photographers to share their work for free. These photos can be used by Canva users in their designs.

Criticisms

In May 2019, Canva faced criticism for its handling of a cyber attack that saw the data of approximately 139 million users stolen by a hacker.[27][28] Canva's handling of the breach from a technical perspective was largely commended, but it faced criticism for an initial email to customers, which buried the details below self-congratulatory marketing content.[29]

References

  1. ^ "Canva Company Profile". Craft. Retrieved 2 August 2020.
  2. ^ https://www.canva.com/
  3. ^ Perez, Sarah. "Canva Launches A Graphic Design Platform Anyone Can Use" Archived 2 September 2019 at the Wayback Machine. Tech Crunch. 26 August 2013.
  4. ^ Lancet, Yaara; Zukerman, Erez. "Canva review: Free tool brings much-needed simplicity to design process" Archived 21 December 2014 at the Wayback Machine. PC World. 7 January 2014.
  5. ^ Swallow, Erica. "Canva Makes Great Design More Accessible" Archived 16 August 2018 at the Wayback Machine. Forbes. 18 November 2013.
  6. ^ Reuter, Dominick. "5 apps entrepreneurs can use right now". Business Insider. How much it costs: Pro, $120/year per user; Enterprise, $360/year per user; free and discounted accounts available for nonprofits and educators.
  7. ^ Castles, Angela. "Canva gets physical with 'Canva Print' to cement US foothold". SmartCompany. Retrieved 6 February 2020.
  8. ^ a b Cook, Jordan. "Canva, now valued at $3.2 billion, launches an enterprise product". TechCrunch. Retrieved 6 February 2020.
  9. ^ "Canva raises $60 million at valuation of $6 billlion". Bloomberg. 22 June 2020. Retrieved 24 June 2020.
  10. ^ Campbell, Rebekah (15 September 2014). "The Problem With Going Into Business With a Friend". The New York Times. Archived from the original on 21 December 2014. Retrieved 21 December 2014.
  11. ^ Pankaj, Mishra. Canva Raises $3 Million To Make Design Accessible To Everyone Archived 30 March 2019 at the Wayback Machine Tech Crunch. 16 April 2014.
  12. ^ "Graphic design startup Canva just turned into a unicorn". Fast Company. 8 January 2018. Archived from the original on 27 June 2018. Retrieved 27 June 2018.
  13. ^ a b "New Sequoia China investment values Australian design company Canva at $1 billion – TechCrunch". techcrunch.com. Archived from the original on 27 June 2018. Retrieved 27 June 2018.
  14. ^ Stanton, Kate; Griffith, Hywel (9 January 2018). "The 30-year-old woman who designed a $1bn business". BBC News. Archived from the original on 28 July 2018. Retrieved 9 January 2018.
  15. ^ Chau, David (9 January 2018). "Canva: Online design startup joins generally overvalued 'unicorn' club". ABC News. Archived from the original on 12 January 2018. Retrieved 9 January 2018.
  16. ^ "Australian tech unicorn Canva suffers security breach". ZDNet. Retrieved 7 December 2019.{{cite web}}: CS1 maint: url-status (link)
  17. ^ "139 Million Users Hit in Canva Data Breach". Tom's Guide. Retrieved 7 December 2019.{{cite web}}: CS1 maint: url-status (link)
  18. ^ Clark, Kate. "Graphic design platform Canva valued at $2.5B with new funds". TechCrunch. Archived from the original on 27 June 2019. Retrieved 2 July 2019.
  19. ^ Vickovich, Aleks (10 September 2019). "Canva follows Atlassian's lead and urges its employees to grab their free lunch and attend the Global Climate Strike". Business Insider Australia. Archived from the original on 11 October 2019. Retrieved 11 October 2019.
  20. ^ Hennessy, James (6 December 2019). "Canva has announced a slew of new products, including a video editing tool and an education offering". Business Insider Australia.
  21. ^ Picoult, Jon. "What Every Business Can Learn From Canva's Unconventional Privacy Notice". Forbes. Retrieved 24 February 2020.
  22. ^ Crook, Jordan (17 June 2020). "Canva design platform partners with FedEx Office as it pushes further into the US". TechCrunch.{{cite news}}: CS1 maint: url-status (link)
  23. ^ "Office Depot Enhances Print Services Portfolio with New Graphic Design Solutions Powered by Canva". Bloomberg. 16 July 2020.{{cite news}}: CS1 maint: url-status (link)
  24. ^ Tse, Crystal; Roof, Katie; Tan, Gillian; Lee, Yoolim (22 June 2020). "Australia's Canva Startup Almost Doubles Valuation to $6 Billion". Bloomberg.{{cite news}}: CS1 maint: url-status (link)
  25. ^ Powell, Dominic. "SmartCompany". Retrieved 6 February 2020.
  26. ^ Jonathan, Shieber. "Australia's design unicorn, Canva, picks up two free image-sharing services, and launches new photo product". TechCrunch. Retrieved 10 December 2019.
  27. ^ Smith, Paul. "Canva criticised after data breach exposed 139m user details". Retrieved 5 September 2020.
  28. ^ "Massive data breach hits Canva". Retrieved 5 September 2020.
  29. ^ Palmer-Derrin, Stephanie. ""Marketing fluff": What startups can learn from Canva's data-breach response". Retrieved 5 September 2020.
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