An impending share sale at design software firm Canva has expanded to raise over $US1.5 billion ($2.28 billion), with local investors both buying and selling, as AI developments helped the company blow past revenue forecasts.
The sale of existing shares in Canva on the private market – known as a secondary sale – is being managed by Goldman Sachs, and was initially expected to raise around $US1 billion, but it has already secured more than $US1.5 billion in commitments as early investors and employees look to cash out their on-paper fortunes.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
