Canva stock: no ticker, no public market — valuation marked down, IPO still "ready" for H2 2026
There is no public Canva stock. The last transaction was an $42 billion employee tender in August 2025; external valuers at Blackbird and Airtree have since marked the company to approximately $34.9 billion in their August 2026 fund reporting.1 Blackbird still calls the company "ready" for a second-half 2026 listing — but no S-1 has been filed, and no date is confirmed.
What's publicly reported
- No ticker, no public market. Canva is private. Its shares do not trade on Nasdaq, NYSE, or any exchange. The company completed a Delaware redomicile in early 2025 — a structural prerequisite for a US listing, not evidence one is imminent.
- $42 billion valuation from August 2025 employee tender ($1,646.14/share). Current and former employees could sell up to $3M of vested equity; buyers reportedly included Fidelity and JPMorgan's asset-management arm. This was the last arm's-length transaction at a disclosed price.2
- External valuers marked equity to ~$34.9B (August 2026). Blackbird and Airtree updated their fund accounting, reflecting approximately a 17% markdown from the $42B August 2025 tender mark. Blackbird partner Rick Baker attributed this to strategic revaluation rather than fundamental business deterioration, and said the firm remains bullish on Canva's AI-era pivot.1
- No S-1 filed, no confirmed date. Blackbird told LPs the company is "ready" for a H2 2026 IPO. Kelly Steckelberg — who guided Zoom through its IPO — joined as CFO in November 2024. The structural moves are in place; the public filing has not happened.
- $3.3B+ ARR, 260M+ monthly users. Canva is reported among the most profitable pre-IPO tech companies globally. No audited financials are public prior to an S-1 filing.
All figures are from public reporting and fund disclosures. Valuation marks are fund-accounting entries, not trading prices. This site is not affiliated with, sponsored by, or endorsed by Canva. Company names and trademarks belong to their respective owners; references are for identification and education only.
Can you buy Canva stock today?
Not on any public market. Before the IPO, the paths for outside investors are narrow:
- Private secondary markets. Accredited investors sometimes buy pre-IPO shares from existing holders through platforms or specialist funds. Nasdaq Private Market listed an indicative Canva price of $1,695.10 per share as of August 7, 20263 — but that is a dealer indication, not a public market price, and most share transfers require company approval. Fees are real, information is limited, and after a valuation markdown the buyer and seller views of fair value may diverge significantly.
- Funds with existing positions. Blackbird, Airtree, Sequoia, and Iconiq hold Canva; access to those funds is typically limited to institutional or qualified investors with minimum commitments.
- Be wary of unsolicited "pre-IPO Canva access" pitches. Offers of easy pre-IPO access to hot private companies are a well-documented fraud vector. If someone is selling you Canva shares via social media or an unsolicited pitch, verify the counterparty's registration and the company's transfer-approval process independently before sending money.
For most investors, the first practical opportunity to buy will be the open market after the listing. IPO allocations flow primarily to institutional investors; retail access typically starts on day one of trading or later — at whatever price the market sets, which may be above or below any private-round mark.
How the valuation got here
- 2021 — $40B peak (private round). Canva raised at one of the highest pre-IPO valuations in Australia's startup history during a period of broad tech multiple expansion.
- 2023 — Marked down to ~$26B. Tech multiples compressed globally; external valuers revised the fund mark downward across the Blackbird and Airtree portfolios.
- August 2025 — $42B via employee tender ($1,646.14/share). The mark recovered and exceeded the 2021 peak, supported by reported $3.3B+ ARR and the company's AI-feature expansion.2
- August 2026 — External valuers mark to ~$34.9B. A roughly 17% markdown in fund valuations from the last tender price. No new financing round has been accepted at this level; it is a fund-accounting revision, not a transaction.1
The range between $26B (2023 trough) and $42B (2025 tender) illustrates how much private valuations move without the company's fundamentals changing dramatically. The IPO will be the first moment a broad market sets the price in real-time, with full transparency on audited financials and governance structure.
For employees: what the IPO means for your taxes
If you hold Canva equity as a current or former employee, the listing is primarily a tax event before it is a liquidity event. A lockup will prevent most selling for weeks or months after the IPO; the tax clock starts running the moment RSUs settle or options are exercised.
- Double-trigger RSUs settle as ordinary income at the IPO settlement price, whether or not you sell a single share. The IRS supplemental withholding rate of 22%4 typically falls far short of the real marginal rate for top-bracket holders — especially in California, where ordinary income tops out at ~52–53% combined federal and state.
- ISO holders face AMT at exercise spread. At the implied FMV near $1,600+ per share, even modest option grants carry material alternative minimum tax exposure. Use the ISO/AMT calculator to estimate your incremental AMT bill before exercising.
- NQSO holders pay ordinary income at exercise. The spread between your strike price and the FMV at exercise is W-2 income in the year of exercise — immediate, unavoidable, and withheld like wages.
- A lockup follows. Modern tech IPOs use 90–180 day lockup periods, sometimes staggered by earnings-window alignment or price triggers. Your concentration target and glidepath should be written before the lockup ends — not after the first selling window opens with pressure to act.
The full six-step pre-IPO planning checklist — grant inventory, settlement tax modeling, estimated tax funding, concentration target, and lockup prep — is in the Canva employee equity guide.
Holding Canva equity? Model the event before the window opens.
Get matched with a fee-only fiduciary who specializes in pre-IPO equity — option exercise timing, ISO/AMT modeling, IPO settlement taxes, and lockup concentration planning. Free, no obligation.
Sources
- Startup Daily — Canva wipes $11 billion from its valuation (August 2026) — external valuers at Blackbird and Airtree marking to ~$34.9B, Blackbird partner Rick Baker's characterization as strategic revaluation.
- Seeking Alpha — Canva initiates share sale at $42B valuation amid IPO push (August 2025) — $1,646.14/share employee tender pricing, $3M employee cap, Fidelity and JPMorgan as reported buyers.
- Nasdaq Private Market — Canva company page — indicative price $1,695.10/share as of August 7, 2026. Not a public market price; all transfers subject to company approval and transfer restrictions.
- IRS Rev. Proc. 2025-32 — 2026 federal brackets; supplemental withholding rate 22% on supplemental wages up to $1M (IRS Pub. 15-T). California top rate per California FTB; combined federal + California rate for ordinary income in top bracket approximately 52–53%.
Company facts reflect public reporting as of August 24, 2026. No Canva S-1 has been filed; all valuation figures are fund marks or secondary-market indications, not public-market prices. Tax figures verified against IRS Rev. Proc. 2025-32 for tax year 2026. Verify everything against your own grant documents and official company communications before acting.