Australian success story Canva is hoping to arrest its $14 billion valuation slide with a new suite of products that see it directly take on Google and Microsoft.
Canva’s Visual Worksuite includes Canva Docs, Canva Websites (a builder to rival the likes of Squarespace), and brainstorming tool Canva Whiteboards.
The Australian disrupter claims this will be the move to push the company past its previous $40 billion valuation within a mere 18 months.
“We very much think we will exceed our previous valuation in the not too distant future,” COO Cliff Obrecht told the AFR.
“This is the next step in getting inside big businesses, of all different types, through useful tools that tap into this global movement towards visual communication.
“We’ve already got deep penetration into every café that wants to create a menu. But the ways that larger businesses are working has changed, and visual communication between teams has become a critical part of organisations.
“Instead of using twenty different tools to do all your work, the idea now is to have everything in one place.”
Canva’s new products will be available through the free model, as well as through Canva Pro and Canva Teams.
Both the latter subscription prices will remain the same, at $164.99 per person per year, and $209.90 for five people per year, respectively.