Canva is repositioning itself from just a graphic design tool to a more workspace platform. The company at its recent event announced a suite of new products to add to its product offerings: Canva Docs, Canva Websites, Canva Whiteboards and Data Visualization.
“We’ve been working for the last two years essentially on the new era of Canva,” said Cliff Obrecht, Canva co-founder and COO, in an interview with TechCrunch.
“Canva has always been very much like an individual product with deep penetration into the workplace. But we’ve never really launched this worksuite that is suitable for organisations.”
The company says is not trying to compete or be like Google Docs, they just doing its thing to visualise its work.
“Our products are inherently visual, so we take a very visual lens on, what does a visual document look like? How do you turn that boring document that’s all text based into something engaging?”
Obrecht also mentioned that Canva is currently profitable, they raised $200 million last year and at the moment they have $700 million cash in the bank to scale and expand their operations.
“We’re in a really fortunate position where we’re a profitable company, and unlike a lot of our peers, we also have a huge cash balance.”
