Canva

“Canva was on this like IPO darling list for so long, and now Google launched Google Pix, P-I-C-S, and without saying they're basically going after Canva, they're going after Canva, and everything is like Gemini integration, Google workspace integration, you co…”

“The facts are that Canva You know, large privately held company in the kind of creative suite space discloses its revenue, even though they're private, and, you know, they were at three billion in gap revenue last year. Going into this year, they're growing at…”

“My, me having churned, and Amelia having churned, we churned just not because, this is a tough one, Canva and Notion, both we churned, not because they're not great apps, we just no longer had any need for them in the agentic area, just no need. Canva and Noti…”

“I'd say it's probably worth twelve billion right now. 20% growth at four billion ARR in the current public markets and not decelerating. There's some sort of rule of 40 number that's better, but I'd say it's worth about twelve billion.”

“Now people are going to start paying more for Canva as Canva gets more gentic with two point O.”

“I don't think any chance an agent is going to use Can that I don't think any, there's any chance an agent is going to use Jira or Confluence unless it's forced to, like it has no need for these products.”

“Good SaaS companies that aren't AI first are going to trade at fair value, which means if you've created value, you'll get value. And I think Canva and Rippling have both created enormous value. So they'll get value, but what they won't get is that stupid, 30 …”

“If you think about where we were even a year ago and then you think about where we will be a year from now, you know it may just create its own Canva a year from now and then use that. It might be like, oh, it'd be way faster for me to just create my own tool …”

“I think we see four IPOs backloaded next year. SpaceX goes out first. Canva comes out of nowhere second. Databricks does it in the back half of the year because it's just time. Anthropic does it at the end of the year. OpenAI probably should have gone first, b…”

“We're fortunate in that it's about 10% of our capital and 55% of that capital is in four iconic leaders that really fit this framework well. Stripe, which is dominating digital cloud-based payments. Canva, which is next-gen cloud-based Adobe. Databricks, which…”

“I knew them before they founded Canva. And he's like, did you invest in it? And I was like, no, I missed that one.”

“Canva actually has a Gamma clone now that's not bad.”

“Most planning is often done by looking at the bricks and trying to stack them. And then you kind of, you know, you can create only so much. And so I guess the column B thinking is thinking about what is that magical, wonderful Future. That you then want to inv…”

“An exercise we often do is like, what is wild success for X or what is wild success for Y? And then equally, what is terrible failure for those things? And you can apply that just to abstract thinking in different industries. You can do that, apply that for we…”

“We've got this two-step plan, build one of the world's most valuable companies and do the most good we can do.”

“I think with a crazy big goal, the thing we have been really great at is achieving them. The timeframe that we achieve them on has not always been very reliable. We have certainly not been able to have pin dart. What's the, what's it? We have not been very acc…”

“Like every time the company doubles in size, pretty much all your systems break, all the things that were working don't work.”

“We were doing a front-end rewrite, and we thought it would take about six months. It was really important because it was critical for cross-platform, it was critical for right to left, it was Critical because we could only have five people working in our edito…”

“We've now got, you know, two and a half thousand engineers, and we're able to deliver amazing things that would have just, like, been completely infeasible.”

“Most investors knew absolutely nothing about design or the industry that we're in.”

“When I look back at our 2012 pitch deck, it's so valid and really still captures what we're doing today.”

“And it's kind of like building a house that you want every brick in the house to match. And if you go and try and take some bricks from someone else's house and stick it in your house, it's probably going to not look very matched. And so trying to find things …”

“I don't have emails like on my phone, and so when I shut my laptop, I actually tune out, and then I, if there's a real issue, I'll get an emergency call or page.”

“We get more than a million requests from our community every year, and we then, we've got a whole incredible team that then tallies them breaks them down, And then deliver them to all of our product teams, and then those actually get closed. So this year we've…”

“I've personally run hundreds, if not thousands of user tests myself, and it's been deeply embedded in our product teams also.”

“Cliff and I owned a little over 30% of Canva, and so we decided we were going to take 30% of Canva and use it to do the most good we can do.”

“Education product is now used by a hundred million people each month.”

“Between our education product and our nonprofit program, where we also give away our paid product for free, We've, we're giving away 1.5 billion dollars of product a year now”

“Inside the Design tab which is used by a 170 million, it's used a hundred and seventy million times a month. And then on our Elements tab, which is used nine hundred million times a month”

“Like a hundred million people, I design a presentation in Canva for each month now.”

“From a macro perspective, there was creativity tools and productivity tools, and what Canva really does is we're literally smack bang in the middle of that Venn diagram of creativity and productivity rather than making a Customers have to make a choice between…”

“We spoke to every single customer. We gave them an over the phone tutorial. We understood. All of their pain points, we got continuous customer feedback, and then we tried to iterate and improve.”

“Just because AI is all the rage and investors really like AI, doesn't necessarily mean it should be front and center in, but if it can genuinely help your customers to achieve their goals, so, you know, the thing that I was mentioning before, enabling people…”

“And it's just such a naive approach to ask that question even, because now the cost of implementation has gone down by 98%.”

“No, no. Zero percent.”

“Well, that's barely 10 X for us. We sound very cheap.”

“We will close the year very close, if not at four billion growing, ah, close to 40% growth rate and re-accelerating growth.”

“They're the anchor of the round. They're the largest check in this round.”

“We've got over a billion dollars cash in the bank. We don't need to raise money, primary funds. We've been a profitable company for eight years.”

“We in 20, 21 were worth forty billion dollars, which was a, I think it was a 50 X multiple on our revenue at the time. 20, 22, everything came crashing down. The market came crashing down and that took us down to 26.”

“We're running four coding tools at once, right? Cursor seems to be the one that's kind of leading the pack.”

“Over the course of the next 12 to 24 months, we'll start consolidating down as the clear winners take charge, and so to answer your question that way, hundred percent there's going to be consolidation down from yeah, year two renewals.”

“I'm not doing it, but we love OpenAI. We love them, but there's just not, I mean, we're cutting our own course. We've had acquisition offers.”

“I would probably say 20%.”

“One thing you need to buck the trend of as you become a larger company is insular thinking and treating your user base like a wet tea towel that you need to wring out.”

“90% of our user acquisition is organic.”

“This is a high risk maneuver and I don't recommend this to founders anymore. I say be a bit over capitalized, but we would run it kind of to the bones in order to take as little money as possible.”

“I mean, we're gearing up to be ready to IPO. We want to be an IPO ready company. We recently, you mentioned Zoom. We brought in Kelly, who led their IPO, and she's been a fantastic addition to the team. She was their CFO. So, so our goal is to be ready. When w…”

“I think it's probably liquidity, and there are restrictions, particularly around employee liquidity and what you can do in the U.S. And whatnot around that piece. And so, We do believe in, we're 13 years old as a company. Our employees should have liquidity. T…”

“We got two hundred and forty million monthly active users.”

“For the most premium queries where you need that answer, but 90% of it will be run on device or be self-hosted.”

“So, so we've got the equivalent of Lovable, it's more for creating widgets and for education purposes, et cetera. It's got twenty million active users already it's going really, really well.”

“We're moving to a unified credit model around AI. So your premium subscription, free gets a certain amount, premium subscription gets you a certain amount. And then if you're a super active user, and so that means it can't eat into our margins too much. So you…”

“We encourage all our engineers to use the best security certified Coding tools that can increase the efficiency and we're not price sensitive around that at all.”

“SEO is about 50, 15% of the 90% organic to date, so it used to be our number one channel, but now our sort of like user flywheel, word of mouth, and people sharing designs are our biggest.”

“We're the number one productivity app on ChatGPT, and we're the fifth Highest domain that ChatGPT refers to.”

“A year and a half ago.2%, I think it was, of the images uploaded to Canva were from ChatGPT. That's now over five percent.”

“In fairness, the kind of, the SEO, I think you have to distinguish between people like Canva where they have a product to sell and they're totally happy to sell it via ChatGPT, and then media companies where the only product they have is their content, where i…”

“And the best investors that have done best out of Canva, like they were early stage funds, but they realized, holy shit, we're onto something here. So they raised SPVs or additional vehicles to move further up the value chain, like going later and later stage …”

“You know, you look at an Anthropic or a Perplexity or a Canva and we, you know, we have, you know, nine figures into each of these companies and yet we are still, you know, well below historical venture standards where you aspire to own 20% or something in the…”