Two Aussie mates never could have imagined that an idea touted around in their living room as 19-year-old university students would secure their status as multibillionaires just 15 years later.
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Canva now has over 60 million monthly active users, up from 55 million at its last raise, and is on track to exceed $US1 billion ($1.4 billion) in annualised revenue by the end of 2021.
The company has been profitable since 2017. It manages more than 500,000 paying teams subscribed to Canva, including from companies like American Airlines, Zoom, SkyScanner, Intel, Salesforce, PayPal and Marriott International.
As technology moves forward, Canva has a number of opportunities for growth. One of them could be to lean on the professionals and offer more and more advanced tools. But the other may involve going back to their roots and riding the way NFTs are putting art into the mainstream. The adoption of blockchain technology and collaborations with NFT platforms seems as an obvious step that will sooner or later change the design landscape — exactly as Canva has done until now.