From Instagram posts to water bottles, the design network that can turn anyone into an artist is now worth fortunes.
The value of design platform Canva has increased almost three-fold, with the once $15 billion company now worth $40 billion USD.
It comes after a funding round led by T.Rowe Price helped raise 200 million dollars for the company.
AirTree adventures, Blackbird and Dragoneer Investments were among the new and pre-existing investment companies that contributed to the deal.
It’s a win for the Australian tech scene, painting Canva as one of the most valuable software companies online.
The graphic design platform enables anyone to be a star designer, no matter the level of experience.
From videos to t-shirts, Canva offers a range of templates across their easy-to-use platform, providing a convenient and easy experience for the user.
A step into the future of design
Co-founder and CEO Melanie Perkins says the goal of her platform is to replace PDF documents.
“Rather than people sending PDFs backwards and forwards between the designer and the client, designers can just create a template for organisation use,” Perkins says.
“It’s less important for us to absolutely excel at things like vector design because there are amazing programs on the market that may be there.”
“We really want to focus on that collaboration piece.”
How will the funding help?
The extra cash will be splashed on hiring two thousand workers, doubling their existing team where 42 percent of their workforce are women.
The extra funding also means the company is able to fulfill their dreams of further growing their business.
Web design, video editing and offline mode are all other features the platform is hoping to offer their growing user base, which is something the extra money can help them launch.
Perkins says it’s the funding from the investors that helps the platform remain to an extent free.
“We intentionally make our free product extremely generous for a number of reasons,”
“It means that people are able to love the product, share it with their friends and family, and promote it on social media, and then that virality really rapidly fuels our growth.”
Today, Canva has over 60 million users across 190 countries.
A number of big-name companies also use the platform, paying for their premium enterprise service.
Written by Rebecca Borg
WhatsApp ramps up privacy features
WhatsApp ramps up privacy features to prevent subscriber loss
The world’s two billion plus WhatsApp users will soon have greater privacy controls with new platform changes on the way.
Meta boss, Mark Zuckerberg, announced the new WhatsApp updates in a Facebook post earlier this week.
Users will be able to make a stealthy exit from group conversations without the rest of the participants being notified.
Other changes include allowing users the ability to check messages without others knowing and controlling who sees when they are online.
These functions have been flagged as being rolled out to WhatsApp users over the next month.
Even more significant to user privacy is a function that is still under development.
Here, WhatsApp users can allow their messages to be viewed only once with an added screenshot blocking feature.
This will prevent other users saving their communication onto their phones for future reference.
The changes have been announced after Meta was scrutinised last year for their data sharing practices after an update of its Terms of Service.
Users were concerned over suggestions WhatsApp user data would be shared and utilised by parent company Meta.
WhatsApp has always boasted about the benefits of its end-to-end encryption preventing.
The news that WhatsApp planned to share user data more widely with Meta shook users’ faith in the platform.
As the third most popular social media platform, it seems Meta is keen to retain this market share by increasing its privacy features.
Some would say this is both to allay security fears and to prevent them from moving to other popular messaging apps such as Signal.
Facebook hands teen’s data to police for abortion charge
New reports reveal that Facebook has handed over data to police to help criminally punish a teenager for seeking to get an abortion
The tech giant turned Celeste Burgess’ Facebook message’s into the authorities, where she is being charged for “removing and abandoning a dead human body.”
The 17-year-old lives in Nebraska where abortion isn’t illegal, but the abortion happened via medication at 23 weeks.
Nebraska has a 20 week pregnancy cut off date, and the medication also warns against medical abortion past this time.
The teen’s mother is also facing 5 charges.
This comes amid widespread controversy after the historic Roe v Wade ruling was overturned in the United States.
Meta faces a probe into triggering poor mental health
Meta is facing a string of lawsuits that relate to the mental health of young people
The legal disputes blame Instagram for eating disorders, depression and even suicides among children and teens.
It comes after whistle-blower Frances Haugen exposed internal documents about how Instagram impacts body image and mental health.
The leaks allegedly show Meta is aware that its products hurt children but the company chose to put its growth and profits ahead of user’s safety.
Meta has not responded to these latest legal blows.
Of course, if you or someone you know needs help, please contact your local helpline.
Who would win a war between the U.S. and China?
Trump Turns FBI Raid to Advantage
Sweden and Finland are one step closer to joining NATO
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
Move over Dogecoin, SHIB coin is here
World3 days ago
Trump’s awkward kiss
Media3 days ago
Anne Heche’s condition updated
Ticker Views3 days ago
Sinema Paradiso – Biden loves this movie
World2 days ago
Why did the FBI raid Trump’s home?
Business3 days ago
Musk creating hybrid of Uber and Airbnb
Media3 days ago
Roger E. Mosley dies at 83 after a car crash
Media2 days ago
Anne Heche fighting for life in coma
Business2 days ago
Is Netflix going bankrupt?