Canva: 42 billion dollars, 3.3 billion of annualised revenue, and a listing it keeps contemplating
Key takeaways
- A secondary share sale in August 2025, at 1,646.14 dollars a share, put Canva at 42 billion US dollars, or 65 billion Australian dollars.
- That was 14.5 per cent above the mark set roughly six weeks before, according to Startup Daily.
- At that point annualised revenue was 3.3 billion US dollars, and more than 240 million people were using the product every month.
- Reports said the company was weighing a listing in 2026. Nothing has been filed publicly.
Canva is Australian, profitable and run by its founders, and it has never had to give up control to grow. Its valuation history is also a good antidote to the idea that private marks only go one way. In 2022 it was marked down from a peak of 54.5 billion Australian dollars. Then it climbed back past it.
How the price was set
| Figure | What it is | Source and date |
|---|---|---|
| 42 billion US dollars | Valuation implied by a secondary share sale at 1,646.14 dollars a share, led by Fidelity | Startup Daily, 20 August 2025 |
| 37 billion US dollars (56.2 billion Australian dollars) | Prior mark, about six weeks earlier | Startup Daily, 27 June 2025 |
| 54.5 billion Australian dollars | Earlier peak, before the 2022 markdown | 2021 |
| 3.3 billion US dollars | Annualised revenue at the time of the sale | Startup Daily, 20 August 2025 |
The August 2025 sale was reported as heavily oversubscribed, and JP Morgan Asset Management was among the new buyers. That says more than a primary round would. Buyers in an oversubscribed secondary are taking existing shares at a fixed price, not funding a business plan.
The business behind the number
Against 3.3 billion US dollars of annualised revenue, the valuation works out at about 13 times sales. Modest, next to the other companies on this site, and it fits a product sold mostly to small teams and individuals, not big corporate accounts. More than 240 million people use Canva each month. The company says its artificial intelligence features have been used more than 20 billion times.
Competition means Adobe. The comparison the market reaches for now is Figma, whose listing gave design software a public price it never had before.
What a buyer is taking on before a listing
- An old mark. The documented valuation is from August 2025. In software, which moves fast, a number more than a year old is a shaky basis for today's price.
- Founder control. The founders hold Canva tightly and they decide whether, and when, it lists.
- Currency. The headline number is quoted in Australian and United States dollars, and the exchange rate can move it while nothing changes in the business.
- Adobe, plus a freshly listed Figma. Both now put a public price on the category.
- A listing that is being considered, not filed. Considering is not a timetable.
Exposure before a listing
Canva holds secondary sales from time to time, which makes it one of the easier names in this group to get into. It also means the price is set at intervals, not continuously. Unicorn Private buys secondary positions in established private technology companies at this stage, where there is revenue, a product people actually use and a credible path to an exit, and it stays away from the stage where most companies fail. With Canva, the thing to watch is how old the mark you are paying against really is. Unicorn Club, the investor club of Unicorn Private, offers club deals in Canva through a dedicated vehicle (SPV), for accredited and qualified investors, from 100,000 dollars.
The short answer
An oversubscribed secondary sale in August 2025 valued Canva at 42 billion US dollars, on 3.3 billion dollars of annualised revenue and 240 million monthly users. A 2026 listing has been talked about, not filed. For a buyer, the main warning is simple: the documented price is now more than a year old.
Related guides
- How to value a private unicorn
- Secondary transactions and right of first refusal (ROFR)
- Pre-IPO due diligence checklist
- Anthropic: valuation, revenue and the road to an IPO
- OpenAI: valuation, the deferred IPO and what is actually documented
- ByteDance: a valuation set in the secondary market, and the TikTok question answered
- Unicorn tracker
- Unicorn Club
About the publisher
This guide is published by Unicorn Private Research, the research arm of Unicorn Private LLC, a Delaware private equity firm that acquires secondary stakes in late-stage private technology companies before their IPO. The firm invests only in established companies already valued above one billion dollars, not in early-stage start-ups, and its founders have been active in private equity and startup investing since 2005.
Unicorn Private is the first firm in the pre-IPO secondary market to create an open research centre in sixteen languages: guides, a tracker of the largest private technology companies, a glossary, and a frequently asked questions section, open to every reader, with every figure carrying a date and a link to a public source.
Sources
- Canva gives itself a $65 billion valuation, closing in on Atlassian, Startup Daily, 20 August 2025
- List of unicorn startup companies, Wikipedia
- How unicorns know when an IPO is the right strategic option, EY
- Canva's plotting another $773m share sale at a higher $56 billion valuation, Startup Daily, 27 June 2025
This page in other languages
- Canva: 42 miliardi di dollari, 3,3 miliardi di ricavi annualizzati e una quotazione che continua a valutare (Italiano)
- Canva : 42 milliards de dollars, 3,3 milliards de chiffre d'affaires annualisé et une introduction en bourse toujours envisagée (Français)
- Canva: 42 Milliarden Dollar, 3,3 Milliarden annualisierter Umsatz und ein Börsengang, der immer wieder erwogen wird (Deutsch)
- Canva: 42.000 millones de dólares, 3.300 millones de ingresos anualizados y una salida a bolsa que sigue contemplando (Español)
- Canva: 42 bilhões de dólares, 3,3 bilhões de receita anualizada e uma listagem que continua considerando (Português)
- Canva: 42 млрд долларов, 3,3 млрд годовой выручки и листинг, который компания всё ещё обдумывает (Русский)
- Canva：420亿美元、33亿美元年化收入，以及一次反复考虑中的上市 (中文)
- Canva：420億ドル、年換算売上高33億ドル、検討が続く上場 (日本語)
- Canva: 42 अरब डॉलर, 3.3 अरब डॉलर का वार्षिकीकृत राजस्व, और एक लिस्टिंग जिस पर वह विचार करती रहती है (हिन्दी)
- Canva: 420억 달러, 33억 달러의 연환산 매출, 그리고 계속 검토 중인 상장 (한국어)
- Canva: 42 milyar dolar, 3,3 milyar dolar yıllıklandırılmış gelir ve sürekli değerlendirilen bir halka arz (Türkçe)
- Canva: 42 miliar dolar, pendapatan tahunan 3,3 miliar, dan pencatatan yang terus dipertimbangkan (Bahasa Indonesia)
- Canva: 42 مليار دولار، و3.3 مليار دولار من الإيرادات السنوية، وإدراج لا تكف عن التفكير فيه (العربية)
- Canva: 42 tỷ USD, doanh thu quy năm 3,3 tỷ và một kế hoạch niêm yết vẫn còn được cân nhắc (Tiếng Việt)
- Canva: 42 mld dolarów, 3,3 mld przychodów w ujęciu rocznym i debiut, który wciąż jest rozważany (Polski)