Australian design-software provider Canva has opened an employee share sale that values the private company at about $42 billion, according to a statement cited by Bloomberg. The figure represents a gain of more than 30% from the $32 billion price tag assigned in 2024 and eclipses the previous peak reached in 2021. The secondary sale allows staff to cash out holdings to new and existing backers, including Fidelity Management & Research Company and JPMorgan’s asset-management arm. Canva said it is generating annualized revenue of more than $3.3 billion and counts over 240 million monthly active users across 190 countries, growth it attributes in part to recent generative-AI design tools. The higher valuation lifts the combined fortune of co-founders Melanie Perkins and Cliff Obrecht to nearly $20 billion, reinforcing Canva’s status as one of Australia’s most valuable tech companies. The transaction comes amid industry speculation that the Sydney-based firm could pursue an initial public offering as early as 2025, though the company has not set a timetable.