From its unusual origins back in 2012, Canva has grown to become one of the world’s most valuable startups, second only to ‘Stripe’ according to the Forbes Cloud 100 top private cloud companies. After raising over $200 million in funds, Canva’s new value is around $40 billion.
The company founded by CEO Melanie Perkins, her now-husband Cliff Obrecht, and Cameron Adams, allows people to put away their old pdf documents and design better-looking personalized documents. The software contains over 800,000 templates and 100 million photos and illustrations. Over 7 billion designs are created using Canva, with 120 new designs appearing each second. The software is used by over 60 million users, with even companies such as American Airlines and Zoom utilizing the software.
The company’s success resulted in CEO Melanie Perkins becoming one of Forbes 30 under 30 Alumni and even appearing in the December 2019 Forbes magazine cover.
The new $40 billion valuations increased the founder’s stake in the company, which was previously valued at $15 billion back in April. Perkins and Obrecht hold an 18% stake in the company, while Adams has a 9%. According to Forbes estimates, the 18% is now valued at $6.5 billion, while Adam’s 9% is $3.2 billion. (10% deduction for private company holdings)
While the company is making headway in reaching its $1 billion annualized revenue mark, which the CEO stated as “moving in the right direction,” it also increased its headcount to 2000 employees in 2021. According to CEO Melanie, the company received over 180,000 job applications in the past 12 months.
The founders have made it clear that they do not intend to hoard wealth. Instead, they have given a lot of attention to charity work. The company joined the Pledge 1% movement and donated time, money, equity, and resources to charity. They have worked with over 60,000 schools and 130,000 non-profits and promised to plant one tree for every print order; at present, that number is around 2 million. Melanie has also pledged that the founders plan to give 30% of Canva to the Canva Foundation, which focuses on charity work.
Melanie is now one of the richest women in Australia. Defying skeptics, she and her partners have built one of the most valued company’s in the world from the ground up and serve as an inspiration for all fledgling entrepreneurs as many now attempt to decode the secrets behind Canva’s success.
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