How tf is Canva valued at >40 billion. Boggles my mind. Never heard anyone even using it!!!!

Is it a state sponsored hacking and surveillance project company with a pink tutu on the front and Cthulhu tentacles in the back?

Like most of these things, it's the "greater fool theory".

@chatgpt what is the greater fool theory?

@retoor
The greater fool theory is an investment strategy that suggests that an investor can profit from buying overpriced assets as long as there is a greater fool willing to purchase those assets at an even higher price in the future. Essentially, the theory is based on the belief that it is possible to sell an investment at a profit, regardless of its actual intrinsic value, as long as there is someone else willing to buy it at a higher price. In other words, the theory relies on the assumption that there will always be a "greater fool" willing to pay more for the asset. This strategy can be risky as it is based on speculation rather than the actual value of the asset.

Also, never heard of canva. A graphic design tool? Hmm. 40 million or billion? Americans like to swap those too. Also nobody wants to be millionaire anymore. Yes all billionaire now

TIL Canva is a thing that exists, fwiw

It’s really popular with managers, sales people, and others that need to do presentations or image editing, but dislike the other slideshow software and can’t use photoshop. It started as a sort of adobe adversary, so they’re good in my book. Anything that is bad for Adobe is good for humanity.

They have also been buying other companies.

@retoor our preferred pronoun is 'murcans, thank you very much. Millionaires here contribute to the "working poor" nowadays. And we're also far too busy putting bacon on everything to notice the billionaires. At least we were before bacon was $60/LB. That's roughly 10 trillion skittles per kilograph for you crazy euros.

Edit: adjusted for inflation

Teachers and managers like to use it.
(Shrug)

@donkulator Don’t say anything about this please because a half of our job relies on over investment

@retoor Yes Billion with a B.

A graphic design tool that now can be automated by consumer grade run AI.

This is also a private "startup" for a 40 freaking BILLION dollar company, and is hyped often by media and financial analysts and Richard Branson..... Something does not add up.

I would not be surprised if this blew up like WeWork or Theranos someday.

@nosoup4u That's American bacon, made from crude oil and corn syrup?

a lot of people use canva wtf

@donkulator ah, a fellow of good taste

@nosoup4u kilograph hihi 😁 Dammit, i do often use the 'murricans one. Bacon is great, if you can put bacon on everything you're quite successful

@darksideofyay maybe but 40 B valuation???. My best is < 500 million. That is also stretching too much. Even the most talked company don't get much amount.

From a former designer working in Canva:

"In terms of career growth, I observed individuals with limited working experience and inadequate skills placed in management roles. I even witnessed comical examples of a previous product director creating propaganda slides eulogizing the CEO's creativity by placing her alongside legendary figures. (Steve Jobs, Socrates…)

Unfortunately, licking boots seemed to be a requirement for a promotion.

The company culture was toxic, with gaslighting and confidence destruction being the norm if one disagreed with the majority or leadership. I still suffer from PTSD after one year I quit."

Another anonymous employee:

"Make no mistake - regardless of its size, this still is a founder-led company through and through. I fear for how Canva will fare with this command-and-control leadership once it IPOs. Cliff is the most vocal founder, and the most present internally. His management philosophy is a series of Sun Tzu quotes, used to justify blunt tactics like spending $1B to acquire an Adobe copycat product, then leaving his sales and product teams to pick up the pieces. Mel, a brilliant product mind, hides in an ivory tower and is barely visible to the company, working instead through a small cadre of trusted advisors. Cam, who seems to be the most grounded, is a “floating founder” and nobody knows exactly what he does.

"

https://glassdoor.com/Reviews/...

My thoughts to myself: Probably short this company mid IPO..

I know someone who interviewed with this company when they were just starting. This then-junior dev friend of mine who is actually good at what they do and is also morally okay, didn't end up getting a job with Canva despite multiple interviews. So this is in my personal no-go list of companies.

@jassole an accountwall on glass door. Freaking annoying

Everyone I know edits their CVs with either code or Canva, and as you'd expect very few people use code.

@retoor lol yeah, I just made a random acc to see.