Australian design software company Canva has launched an employee stock sale valuing the firm at $42 billion, marking a more than 30% increase from its $32 billion valuation in 2024. The company, co-founded by Melanie Perkins and Cliff Obrecht whose combined wealth is approaching $20 billion, reported annualized sales exceeding $3.3 billion and has over 240 million monthly active users. The stock sale, led by investors including Fidelity, T. Rowe Price, Sequoia, and Bessemer Venture Partners, allows employees to sell shares to new and existing investors. Canva, a rival to Figma and Adobe, is leveraging advancements in artificial intelligence to drive growth and is widely expected to pursue an initial public offering in 2025, following Figma's successful market debut.