Highlights:
- As of September 2021, Canva said it experienced massive growth and doubled its revenue year-over-year (YoY).
- The global visual communications platform, Canva, raised US$ 200 million in a funding round held in September 2021.
- Canva is available on all platforms, and you can access it on smartphones (both iOS and Android) and desktops.
The global visual communications platform, Canva, raised US$ 200 million in a funding round held in September 2021. While announcing the funding, Canva said it had a valuation of US$ 40 billion, and since then, it has kept investors interested in the company.
The prospect of earning positive returns on newly-listed companies often keeps investors looking for such stocks. It appears that the retail investors were looking for Canva stock on Thursday, March 10.
All you need to know about Canva
T.Rowe Price led last year's funding round, and Canva's backers include big venture capitalists like Sequoia Capital Global Equities, Greenoaks Capital, Dragoneer Investments, AirTree Ventures and strategic investors like Franklin Templeton.
The valuation of US$ 40 billion had solidified the visual communication platform's position among the fastest-growing software companies to date.
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In its official statement, Canva said that the massive surge in its valuation was due to the growth of its monthly active users to over 60 million spread across 190 countries.
As of September 2021, Canva said it experienced massive growth and doubled its revenue year-over-year (YoY) and said it remained on track to achieve US$ 1 billion in annualized revenue and generated positive free cash flows.
Canva said it is becoming a choice for many organizations worldwide, and it was adopted by companies like Salesforce, Marriott International, and Zoom, which are listed in Fortune 500.
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Bottom line
The global visual communications platform is a private company, and Canva stock is not available in the equities markets. The company was launched in 2013, and it allows users to create designs via the platform's tools.
Canva is available on all platforms, and you can access it on smartphones (both iOS and Android) and desktops. The users have created more than 7 billion designs, and the platform offers over 800,000 templates and 100 million design ingredients.
The company has not announced its initial public offering (IPO) plans yet, and it is uncertain if it has any such plan. Therefore, retail investors will have to wait until the company goes public.
The equities markets have remained volatile since the start of 2022 due to various factors like the fear of interest rates hikes by the Federal Reserve and then the ongoing crisis between Ukraine and Russia.
Hence, it is doubtful that the company would go public in times of uncertainty.
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Please note, the above content constitutes a very preliminary observation or view based on digital trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.