Canva share sale booms as revenue races higher

An impending share sale at design software firm Canva has expanded to raise over $US1.5 billion ($2.28 billion), with local investors both buying and selling, as AI developments helped the company blow past revenue forecasts.

The sale of existing shares in Canva on the private market – known as a secondary sale – is being managed by Goldman Sachs, and was initially expected to raise around $US1 billion, but it has already secured more than $US1.5 billion in commitments as early investors and employees look to cash out their on-paper fortunes.