Canva maintains $60 billion valuation despite competition from Google AI

Canva’s co-founder, Cliff Obrecht, has confirmed that the company’s private valuation of $60 billion remains steady, despite growing concern among investors following the launch of Google’s AI-powered design tool, Stitch. The new product allows businesses to easily create sophisticated websites and apps simply by describing their desired look and feel, posing a competitive challenge to Canva’s offerings. While the release of Stitch has prompted a sell-off in shares of Canva’s publicly listed rivals, such as Adobe and Figma, Obrecht emphasised that investors continue to have confidence in Canva’s business model and long-term growth prospects. The reaffirmation of Canva’s valuation comes amidst a broader global decline in software stock prices, highlighting the resilience of the design platform. Analysts note that although competition in AI-driven design is intensifying, Canva’s established user base, product versatility, and brand recognition contribute to its continued market strength. The company’s leadership appears committed to innovation while maintaining investor trust in a volatile technology landscape.