Latest news with #Fidelity Management
Yahoo
16 hours ago
- Business
- Yahoo
Canva Begins Share Sale at $42 Billion Valuation in Road to IPO
(Bloomberg) -- Canva Inc. launched an employee stock sale at a valuation of $42 billion, marking a significant leap in value for the Australian design software startup that's betting on artificial intelligence for growth. Employees can sell stock to new and existing investors, including Fidelity Management & Research Co. and JPMorgan Chase & Co.'s asset management arm, Canva said in a statement on Wednesday. The offer boosts Canva's valuation more than 30% — it was valued at $32 billion in 2024. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone Trump Takes Second Swing at Cutting Housing Assistance for Immigrants A Photographer's Pipe Dream: Capturing New York's Vast Water System A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Canva is adding artificial intelligence enhancements to its design tools in a push to juice revenue growth and gear up for a potential initial public offering. In April, it launched new products, including a conversation-based AI photo editor, seeking to attract corporate customers away from rival Adobe Inc. Canva is locked in a battle for users with Photoshop and Lightroom maker Adobe, which is developing its own AI model tailored to its apps, called Firefly. San Francisco-based Figma Inc. is another strong contender, now valued at $34 billion after going public in July. 'This round has been significantly oversubscribed,' Canva Chief Operating Officer and co-founder Cliff Obrecht said. 'The overwhelming demand from both new and existing investors is a huge vote of confidence in our momentum and the scale of what still lies ahead.' Launched in 2013, Canva gained an early following for its ease of use in creating anything from wedding invitations to social media posts. Canva recorded more than $3.3 billion in annualized sales and now has over 240 million monthly active users, according to the company. Startups often negotiate share sales for their employees as a way to reward and retain staff, and also attract external investors. With the share sale, the company run by Melanie Perkins can tap investor demand to provide employees with liquidity while still remaining as a private company. Investors have long viewed Canva as a candidate to go public, though the company hasn't disclosed any concrete plans for such a move. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Survived Bankruptcy. Next Up: Cultural Relevance? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
18 hours ago
- Business
- CNA
Australia's Canva begins share sale at $42 billion valuation
Australian graphic design platform Canva launched an employee stock sale that values the company at $42 billion, it said on Wednesday, ahead of a reported IPO this year. The stock sale comes at time when the company is investing heavily in AI tools for its more than 240 million monthly active users. Employees will be able to sell their shares to both new and existing investors in the funding round led by shareholder Fidelity Management, Canva said. JPMorgan's asset management division is joining as a new investor. "Identifying companies that can provide investors with pivotal exposure to breakthrough work in AI is an important pillar of our research in active management," Felise Agranoff, a portfolio manager at a JPMorgan Asset Management arm said. "We believe that Canva stands out in the design sector and can help create long-term value for investors." Canva Co-Founder and COO Cliff Obrecht said the funding round was "significantly oversubscribed". Details of the number of shares to be sold were not revealed. Launched in 2013, Canva is a web-based platform that lets users design everything from wedding invitations and birthday cards to social media posts and presentations. The company recently introduced AI-powered tools that allow users to generate designs and interactive elements using plain English. It reported annualised revenue of $3.3 billion.
CNA
20 hours ago
- Business
- CNA
Canva begins share sale at $42 billion valuation, Bloomberg News reports
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 annualized revenue of $2.5 billion last year.
Bloomberg
21 hours ago
- Business
- Bloomberg
Canva Begins Share Sale at $42 Billion Valuation in Road to IPO
Canva Inc. launched an employee stock sale at a valuation of $42 billion, marking a significant leap in value for the Australian design software startup that's betting on artificial intelligence for growth. Employees can sell stock to new and existing investors, including Fidelity Management & Research Co. and JPMorgan Chase & Co.'s asset management arm, Canva said in a statement on Wednesday. The offer boosts Canva's valuation more than 30% — it was valued at $32 billion in 2024.
