Canva: She founded a unicorn by 30. Now she's taking on the tech giants | Make It International

Summary

Melanie Perkins, co-founder and CEO of Canva, an online design platform, shares her ambitious journey from dreaming of challenging tech giants to becoming one of the world's youngest female tech unicorn founders. With a vision to democratize design, she and her team persevered through challenges, securing investments and partnerships, leading to Canva's valuation of $3.2 billion. Now, with a focus on profitability and expansion, Perkins is poised to take on the professional design tools market, already used by 85% of Fortune 500 companies.

Takeaways

• 🚀 Melanie Perkins has been ambitious from a young age, aspiring to make a significant impact in the tech industry.
• 💡 As a teenager, Melanie and her boyfriend Cliff Obrecht envisioned creating a unified, accessible design ecosystem to challenge industry giants like Microsoft and Adobe.
• 🌐 Melanie traveled to Silicon Valley to pitch her idea to over 100 investors, showcasing her determination and innovative approach to business.
• 🎨 Melanie's creative tactics, such as faking an interest in kitesurfing to connect with potential investors and creating personalized stories for prospective employees, demonstrate her resourcefulness.
• 💰 After starting Canva in 2013, the company reached a valuation of $1 billion in just five years, making Melanie one of the youngest female tech unicorn founders.
• 📈 At the age of 32, Canva is valued at $3.2 billion, reflecting the rapid growth and success of the company under Melanie's leadership.
• 🌟 Canva has celebrity endorsements from Hollywood actors like Owen Wilson and Woody Harrelson, highlighting its global recognition and appeal.
• 🔄 The platform has enabled the creation of nearly 2 billion designs across 190 countries in just six years, emphasizing its widespread use and impact.
• 📚 The idea for Canva originated from Melanie's frustration with the complexity of existing design tools while teaching at university, leading to the development of a simpler, more collaborative design tool.
• 🤝 With the help of investors like Bill Tai and tech advisors like Lars Rasmussen, co-founder of Google Maps, Melanie was able to find the right team to build Canva.
• 💼 Canva's success has been attributed to its profitability and the ability to grow sustainably without burning through investment capital, setting it apart from many other tech startups.
• 🏆 Melanie's leadership and Canva's achievements make it one of the world's most valuable female-led tech startups, serving as an inspiration to women in the industry.

Q & A

Who is Melanie Perkins and what is her ambition?

Melanie Perkins is an Australian entrepreneur and the co-founder and CEO of Canva, an online design platform. Her ambition has always been to make design accessible to everyone, with a vision to integrate the entire design ecosystem into one page and make it accessible worldwide.

What was the initial goal of Canva when it was founded?

The initial goal of Canva was to create a simple, accessible, and collaborative design tool that could be used by anyone to design logos, flyers, presentations, and more, with the aim to disrupt the design market dominated by big players like Adobe.

How did Melanie Perkins approach investors in Silicon Valley?

Melanie Perkins approached investors by pitching over 100 investors in Silicon Valley, using creative tactics such as faking an interest in kitesurfing to connect with potential investors and even stalking future employees to convince them to join her company.

What was the value of Canva five years after its founding?

Five years after its founding in 2013, Canva was valued at $1 billion, making Melanie Perkins one of the world's youngest female tech unicorn founders.

What is the current valuation of Canva and Melanie Perkins' age?

As of the time the script was written, Canva is valued at $3.2 billion, and Melanie Perkins is 32 years old.

Who are some of the celebrity backers of Canva?

Canva has celebrity backers that include Hollywood actors Owen Wilson and Woody Harrelson.

How did Melanie Perkins and Cliff Obrecht start their entrepreneurial journey?

Melanie Perkins and Cliff Obrecht started their entrepreneurial journey by creating a simple school yearbook design tool in Melanie's mother's living room, with Cliff as her business partner, targeting schools in Australia.

What was the turning point that led Melanie Perkins to Silicon Valley?

The turning point was a meeting with investor Bill Tai, who after a brief conversation at a conference in Perth, invited Melanie to Silicon Valley, where he introduced her to potential investors and helped her connect with Lars Rasmussen, the co-founder of Google Maps.

How did Melanie Perkins handle the challenge of finding a technical co-founder?

Melanie Perkins faced the challenge by persistently presenting potential candidates to Lars Rasmussen, who was serving as a tech advisor. After a year of rejections, they eventually found a technical co-founder in Cameron Adams and a tech developer in Dave Hearnden, both from Google.

What is the significance of Canva's valuation reaching $3.2 billion?

The valuation of $3.2 billion signifies not only the growth and success of Canva but also its recognition as one of the world's most valuable female-led tech start-ups, setting a positive example for women in the tech industry.

What are Melanie Perkins' plans for the future of Canva?

Melanie Perkins plans to use the funding to continue proving her leadership, expand her team across Sydney, Beijing, and Manila, and build out new revenue streams with Canva Pro and Canva for Enterprise, positioning the company to compete with professional design tools of top tech giants.

Outlines

00:00

🚀 Founding Canva: The Ambition of Melanie Perkins

Melanie Perkins, an ambitious Australian entrepreneur, co-founded Canva with her boyfriend Cliff Obrecht in 2013. They envisioned a design ecosystem accessible to everyone, which led to their journey to Silicon Valley, where they pitched to over 100 investors. Perkins used creative tactics to attract talent, such as crafting personalized stories on social media. Their hard work resulted in Canva's valuation reaching $1 billion within five years, making Perkins one of the youngest female tech unicorn founders. The company, which offers a free-to-use online design platform, has celebrity endorsements and has helped create nearly 2 billion designs worldwide. Perkins and Obrecht's net worth is close to $900 million, and they continue to innovate in the design market, which was previously dominated by big players like Adobe.

05:02

🌟 Canva's Growth and Expansion: From Vision to Valuation

Canva's journey began with an idea and a clear vision by its founders, which attracted early investors like Blackbird Ventures. The company's growth has been remarkable, with a significant funding round in October 2019 led by Silicon Valley investor Mary Meeker, valuing Canva at $3.2 billion. This valuation is not just a financial milestone but also a recognition of the company's strong performance and potential. Canva stands out in the tech industry for its profitability, unlike many other venture-backed companies that are burning cash to fuel growth. With a focus on expanding its team and developing new revenue streams through Canva Pro and Canva for Enterprise, the company is gearing up to compete with professional design tools offered by tech giants. Melanie Perkins, who is also committed to inspiring women in tech, aims to further establish Canva's dominance in the market, with 85% of Fortune 500 companies already using the platform.

Keywords

💡Ambitious

Ambitious refers to having a strong desire and determination to achieve success and accomplish goals. In the context of the video, Melanie Perkins is described as ambitious from a young age, which is evident in her aspiration to create a 'good assignment' and later to challenge established tech giants like Microsoft and Adobe. Her ambition is a driving force behind the creation and growth of Canva.

💡Entrepreneur

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. Melanie Perkins is portrayed as an entrepreneur who, along with her boyfriend Cliff Obrecht, dreams of revolutionizing the design ecosystem. Their entrepreneurial journey includes pitching to investors and building a company that disrupts the design software market.

💡Design Ecosystem

The design ecosystem encompasses all the tools, platforms, and processes involved in creating visual content, such as logos, flyers, and presentations. In the video, Melanie's vision is to integrate the entire design ecosystem into one accessible platform, which she achieves with Canva, making design tools available to a global audience.

💡Tech Unicorn

A tech unicorn is a privately held startup company with a value of over $1 billion. Melanie becomes one of the world's youngest female tech unicorn founders at the age of 30 when Canva reaches a valuation of $1 billion. This term highlights the rapid growth and success of Canva in the technology industry.

💡Online Design Platform

An online design platform is a web-based service that allows users to create visual content without the need for specialized design software. Canva, the company co-founded by Melanie, is described as a free-to-use online design platform that democratizes design, making it accessible to everyone, which is central to the company's mission and success.

💡Investor Pitch

An investor pitch is a presentation made to potential investors to attract funding for a business. Melanie travels to Silicon Valley to pitch over 100 investors, which is a critical step in securing the financial support needed to grow Canva. The pitch is part of the entrepreneurial process to realize her vision.

💡Kitesurfing

While kitesurfing is a water sport and not directly related to business, it becomes a part of Melanie's strategy to connect with potential investors. She fakes an interest in kitesurfing to attend a conference where she meets Bill Tai, an investor who later becomes instrumental in Canva's funding and growth.

💡Co-founder

A co-founder is an individual who is among the group of people who establish a company together. Melanie's boyfriend, Cliff Obrecht, becomes her business partner and co-founder of Canva. The term is used to describe the collaborative effort in building the company from its inception.

💡Yearbook Design Tool

A yearbook design tool is a software application that simplifies the creation of yearbooks, allowing for easy layout and design. Melanie and Cliff initially create a simple yearbook design tool as a test for their idea, which becomes the precursor to Canva. This tool is significant as it lays the foundation for their broader vision of an accessible design platform.

💡Venture Capitalist

A venture capitalist is an individual or firm that provides capital for startup companies in exchange for equity. Bill Tai, mentioned in the script, is a venture capitalist who invites Melanie to his retreat and eventually helps connect her with a technical co-founder. Venture capitalists play a crucial role in the funding and growth of startups like Canva.

💡Oversubscribed

When a company's funding round is oversubscribed, it means that the demand for investment in the company exceeds the amount of capital the company is seeking to raise. Canva's first funding round is described as oversubscribed, indicating high investor interest and confidence in the company's potential.

💡Fortune 500

The Fortune 500 is a list compiled and published annually by Fortune magazine that ranks 500 of the largest United States corporations by total revenue. The script mentions that 85% of Fortune 500 companies use Canva's platform, underscoring the widespread adoption and success of the company's services among top businesses.

Highlights

Melanie Perkins has always been ambitious, aiming to make every assignment a good one since Year 2.

Melanie and Cliff Obrecht dreamt of challenging tech giants like Microsoft and Adobe as teenagers.

Their goal was to integrate the entire design ecosystem into one accessible page for the world.

Melanie traveled to Silicon Valley, pitching to over 100 investors and using creative tactics to gain attention.

She created a personalized fairytale to entice potential employees, showcasing their company's vision.

Canva was valued at $1 billion five years after its founding, making Melanie one of the world's youngest female tech unicorn founders.

At 32, Melanie's company is worth $3.2 billion, and she sees this as just the beginning.

Canva is a free-to-use online design platform with celebrity backers like Owen Wilson and Woody Harrelson.

The platform has enabled the creation of nearly 2 billion designs in 190 countries in just six years.

Melanie and Cliff started Canva in Australia to democratize design for logos, flyers, and presentations.

The design market was dominated by big players like Adobe, and Melanie aimed to disrupt it.

The idea for Canva began in 2006 when Melanie found design programs too complex and envisioned a simpler, online future.

Melanie and Cliff created a simple yearbook design tool as a stepping stone to their 'crazy, big dream'.

Melanie's persistence led her to meet investor Bill Tai, who introduced her to Silicon Valley's investor network.

To connect with investors, Melanie learned to kitesurf, showcasing her dedication to the startup culture.

Canva's initial funding round was oversubscribed, with an initial investment of $1.5 million matched by the Australian government.

Venture capitalist Mary Meeker led an $85 million funding round in 2019, valuing Canva at $3.2 billion.

Canva's profitability is rare among tech startups, which often burn millions to drive growth.

Melanie's leadership and vision have made Canva one of the world's most valuable female-led tech startups.

With 85% of Fortune 500 companies using Canva, Melanie is ready to compete with professional design tools of top tech giants.

Melanie's internal drive for excellence and control is stronger than external expectations, pushing her to new heights.

Transcripts

Melanie Perkins has always been ambitious.

All the way from my Year 2 assignments, I’ve always been like, "I want to make this a good assignment."

As a teen, the Australian entrepreneur and her boyfriend, Cliff Obrecht, dreamed

of taking on the Microsofts and Adobes of the world.

I guess our goal was to take the entire design ecosystem, integrate it into one page,

and then make it accessible to the whole world.

No small feat!

It’s a vision that would see her travel to Silicon Valley and pitch over 100 investors,

fake an interest in kitesurfing, and even – she says - stalk future employees.

I took his photos from his Facebook profile, and I created this hilarious fairytale that

told him about the amazing adventure he was going to have if he was to join our company.

And her hard work has paid off.

Five years after starting the company in 2013, it was valued at $1 billion, making her one of the

world’s youngest female tech unicorn founders at just 30.

Now aged 32, the company is worth $3.2 billion, and she says she’s only just getting started.

Melanie is the co-founder and CEO of Canva, a free-to-use online design platform, whose

celebrity backers include Hollywood actors Owen Wilson and Woody Harrelson.

She and Cliff started the company here in Australia in 2013, in a bid to make design

accessible to all, be it for logos, flyers or even presentations.

And in six short years, it's helped create close to 2 billion designs in 190 countries.

Today, the couple is worth close to $900 million.

It was a market that hadn’t been touched by new companies for a long time.

It was ruled by some big players like Adobe,

and Melanie had this vision to take this market and change it.

The idea struck in 2006 while the couple was studying at university in Perth.

Melanie would spend her spare time teaching design programs to other students, but she

grew frustrated with the unnecessarily complex process.

People would have to spend an entire semester learning where the buttons were,

and that seemed completely ridiculous.

I thought that in the future it was all going to be online and collaborative and much, much

simpler than these really hard tools.

So, the couple, who were just 19 at the time, set to work creating

a simple school yearbook design tool to test out their idea.

My mum’s living room became my office, and my boyfriend became my business partner.

We started enabling schools to create their yearbooks really, really simply.

So the whole year could collaborate and design their profile pages and articles.

And then we would actually physically print them

and deliver them to schools all around Australia.

The business was a success — and remains active today — but they never lost sight

of what Melanie calls her “crazy, big dream” for a one-stop-shop design site.

So she began chasing investors.

There was an investor called Bill Tai, who was over from Silicon Valley in Perth,

and I met him after a conference.

I spoke to him for five minutes and he said if I went to San Francisco,

he’d be happy to meet with me.

So I jumped on a plane to San Francisco and, true to his word, he met with me.

I had brought this paper pitch deck - I didn’t realize that, you know, that wasn’t cool

– but I pulled out my paper pitch deck on the future of publishing.

At that point in time, I thought that he didn’t really like what I had to say.

He was on his phone, and I thought that meant he wasn’t really engaged.

But then I got home and realized that he was actually introducing me to a few people.

That meeting set the wheels in motion.

The legendary venture capitalist invited Melanie to Mai Tai, his unique retreat for investors

and kitesurfing enthusiasts.

I think the kind of person that’s drawn to a start-up likes to believe that they can

control the forces of nature.

Bill hosted this kitesurfing and entrepreneurship conference.

So every time he would say, ‘How was my business going?,' he’d also be like, ‘How’s

your kitesurfing going?’

So I kind of needed to learn to kitesurf.

Oh wow! Never done it before.

I had not done it before.

And, to be honest, it’s not something that I would normally, naturally try.

But yeah, decided to give it a go because when you don’t have any connections, you

don’t have any network, you just kind of have to wedge your foot in the door and wiggle it

all the way through.

It wasn’t long before the young couple was pitching to scores of Silicon Valley investors.

And even personalizing their decks to win over talent, like top tech engineers from Google.

If you search 'bizarre pitch deck' on Google, we are the number one search result.

So you can see that pitch there.

Claim to fame.

But they still lacked one crucial ingredient: A technical co-founder.

So Bill hooked them up with Lars Rasmussen, the co-founder of Google Maps,

to lend them a helping hand.

When I met with Lars, we had an incredible conversation and we talked about the future

of publishing and the future of the world.

And he said he’d become our tech advisor.

But what that actually entailed was a year of him rejecting every single person

that I brought him.

Sending him resumes, sending him LinkedIn profiles, bringing him physical people,

and he was just like, ‘No, they’re not up to scratch.’

Which was incredibly frustrating at the time because I just wanted to get started!

All that grit and patience paid off.

They eventually discovered a co-founder in Cameron Adams

and a tech developer in Dave Hearnden, who were both from Google.

Months later, at the close of their first funding round, the company was oversubscribed.

That initial $1.5 million investment was even matched by the Australian government

in a bid to keep the company on Australian shores.

I’m Rick Baker, I’m one of the partners at Blackbird Ventures.

We’re a venture fund here in Australia and one of the first investors in Canva.

We invested in it when it was just an idea and now the largest investor in Canva.

I think, really, what attracted us to the founders was this very clear vision

of what Canva was going to be.

Six years on, the company is now a darling of Australia's start-up scene.

In October 2019, an $85 million funding round led by Silicon Valley investor Mary Meeker

gave the company a valuation of $3.2 billion.

Valuation, as an investor, is of course important.

It means that our investment is growing very nicely.

But I think, more importantly, it’s a recognition by investors who really look into the company

closely and an indication of how the company’s going.

What is amazing, really, is the growing usage of Canva.

Their business is a wonderful, profitable business, and that’s quite a rare thing.

If you look at a lot of the big tech companies, the venture-backed SAAS companies in the U.S.,

a lot of them are burning millions of dollars a month to drive their growth.

And the amazing thing Canva’s been able to do is do that in a really profitable way.

The milestone also makes it one of the world’s most valuable female-led tech start-ups.

Today, less than a third of tech and healthcare start-ups have at least one female founder.

I know Melanie doesn’t like to play the female angle, but it really is

an inspiration to women.

And it isn’t a responsibility Melanie is taking on lightly.

She says she'll use the funding to continue to prove her leadership prowess, expand her

team of 700 across Sydney, Beijing and Manila, and build out new revenue streams

with the company’s paid services, Canva Pro and Canva for Enterprise.

That strategy will bring Melanie the closest she’s come yet to competing

with the professional design tools of top tech giants like Microsoft and Adobe.

But with 85% of Fortune 500 companies already using the platform, the young

founder says she’s up for the challenge.

I think I’ve always put a lot of pressure on myself.

And I think that sort of internal locus of control has been pretty strong.

So while the expectations around our company

and what we’re expected to do is sort of increasing,

that’s nothing on what I've got on myself!