No IPO and a valuation plunge, but Canva’s private shares are in demand

Canva co-founder Cliff Obrecht says employees are still clamouring to get their hands on the design company’s private stock, in a signal that slumping valuations and a lack of any public float on the horizon have not dampened the unicorn’s secondary market value.

Paying staff in stock, as well as cash, has been a key component of Canva’s voracious hiring strategy, which led to the company adding 1000 new employees to its 3500-strong roster in 2022 with plans to add another 1000 this year.