Design powerhouse Canva is reportedly preparing for a 2027 public debut, signaling a strategic move to tap into capital markets after navigating a period of volatility for software stocks.
The Sydney-founded unicorn enters the pre-IPO phase with a formidable valuation of $66 billion, roughly ten times its $6.3 billion annualised revenue recorded at the close of 2025.
Despite its massive scale—boasting four times the revenue of competitor Figma—Canva maintained a growth rate of over 40% last year, with total revenue exceeding $4.7 billion.
Canva recently marked its eighth consecutive year of profitability on a free cash flow basis, generating approximately $275 million in the first quarter alone.
While only 12% of its 265 million monthly active users currently pay for the service, the sheer volume of engagement provides a runway for monetisation.
To counter the looming threat of AI disruption from entities like OpenAI, Canva has aggressively integrated generative technology into its suite.
Its "vibe coding" tool, developed in partnership with Anthropic, has already secured 10 million monthly users, complemented by the strategic acquisitions of Kaleido and Leonardo.
Co-founder Cliff Obrecht remains confident in the company's resilience, even as broader market conditions remain cautious.