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Canva Inc., the developer of the graphic design platform of the same name, is preparing for a secondary sale of shares for more than $1 billion. This is reported by The Information.

Employees and shareholders of the company who have Canva shares in the amount of $1 billion will be able to sell them on the market. Canva will not raise money for itself. The deal values the startup at $26 billion. This is the second secondary sale of shares in the last six months. After the first sale, the projected valuation of the company reached $40 billion.

In November 2023, Canva launched an AI-powered text-to-image feature. This feature began to be tested back in September, and then rolled out to more than 100 million users.

We remind you that the popular Australian service for designers Canva condemned this aggression at the beginning of the full-scale invasion of the Russian Federation into Ukraine. But he remained working on the Russian market. On June 1, 2022, the company announced that it was leaving the Russian market.