Canva takes a $20 billion hit after Blackbird Ventures slashes the software giant's valuation
A huge blow to the young Australian founders of tech start-up Canva as the stock market darling is hit by a brutal $20 BILLION pullback Graphic design software group Canva has cut valuation by $20 billion Was valued at AU$54 billion on the Australian stock market 10 months ago Venture capital firm Blackbird Ventures reduces Canva’s value by 36 percent By Kylie Stevens For The Australian Daily Mail Published: 01:47 EDT, 27 July 2022 | Updated: 01:49 EDT, 27 July 2022 An Australian tech start-up that was once worth more than Telstra and Woolworths has taken a major hit after its value plunged more than a third. Graphic design software group Canva was the darling of the Australian stock market 10 months ago, with an estimated market cap of AU$54 billion. The start-up – founded by young Australians Melanie Perkins and Cliff Obrecht a decade ago – has more than doubled in value in five months. But the company has now suffer