Canva's valuation soars to US$32B

Design technology company Canva has achieved a milestone, now boasting a valuation surpassing that of major Australian corporations including Rio Tinto (ASX:RIO), Woodside Energy (ASX:WDS), Telstra (ASX:TLS), and Woolworths (ASX:WOW).
 
The surge in value comes on the heels of nearly $10 billion raised from new investors, elevating its worth to US$32 billion ($48.7 billion), up from US$26 billion ($39.57 billion) following an earlier fundraising round in April.
 
The latest funding has reignited speculation that a long-awaited public listing for Canva could be on the horizon.
 
The company is now setting its sights on challenging Adobe, valued at US$230 billion ($350.01 billion), by integrating artificial intelligence into its software offerings.
 
"It's been an extraordinary year for all of us at Canva as we celebrate remarkable growth and increasing demand for our business," said FounderCliff Obrecht.
 
"We're excited to empower more than 200 million people in 190 countries with the simplicity, access, and power of our product. While we're incredibly proud of the progress we’ve made, we're just getting started, and we’re looking forward to a whole lot more to come," he added.
 
As Canva approaches its 12th year as a private company, there is growing anticipation among investors seeking returns.