(Reuters) -Australian graphic design platform Canva launched an employee stock sale valuing the company at $42 billion, Bloomberg News reported on Tuesday.
Reuters could not immediately verify the report. Canva did not immediately respond to a request for comment.
Company employees are able to sell shares to both new and existing investors, including Fidelity Management & Research Company and JPMorgan’s asset management division, Bloomberg said, citing a statement from Canva.
Sydney-headquartered Canva allows users to create posters, social media graphics, presentations, and more using presets, templates, and generative AI tools. It reached a peak valuation of $40 billion in late 2021.
Launched in 2013, Canva has more than 200 million monthly active users across 190 countries and reported an annualized revenue of $2.5 billion last year.
(Reporting by Chandni Shah in Bengaluru; Editing by Harikrishnan Nair)
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