Canva co-founders Cameron Adams,Melanie Perkins and Cliff Obrecht.Credit:Peter Rae
They noted that “profitability was not a focus of the group for the reporting period” and “we’re still only one per cent of the way into our plan and vision for the group”.
Canva has based its business on one simple idea. In a digital world,everybody needs design tools,not just graphic design professionals.
"We wanted to take design from this very privileged,professional thing that only one per cent of the world could do and allow the other 99 per cent to access it as well,"Canva co-founder Cameron Adams said in a recent interview.
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It has now hooked 10 million users with a so-called freemium model that offers users a web-based design package for free with small charges for premium services. But the big money appears to be with the business sector,which generates subscription fees for the company.
In April the company made its first acquisition with the purchase of Sydney-based Zeeting for an undisclosed sum. It will take Canva into the presentations market in competition with Microsoft PowerPoint - but with a difference because Zeeting's product is interactive.