Canva says 100 million people - or 1.25% of mankind - now use its products each month | nickbonyhady
Australian graphic design software ‘unicorn’ Canva has revealed its products are now used by more than 100 million people each month, just weeks after its longstanding rival Adobe moved to secure its dominance by buying a smaller competitor.
The deal, which has not been completed, has been widely interpreted as a move by Adobe to protect its business from the rapid growth of online-first rivals led by Canva. But the three major Australian venture capital funds that hold Canva stock – Blackbird, Airtree and Square Peg – cut its value to $US26 billion in late July, reflecting a downturn in tech stocks triggered by rising inflation and economic turmoil.Canva is a crucial player in Australia’s start-up ecosystem, employing more than 3200 people including these workers at its conference last month.
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