Canva slashes valuation by $10B as AI reality bites

Canva Pty Ltd has cut its valuation by $10 billion, from $40 billion to $26 billion, in a secondary share sale, reflecting a sobering reassessment of its growth prospects amid intensifying competition from AI-powered design tools. The markdown, reported by MSN, underscores the broader market correction for tech startups that benefited from pandemic-era demand.

Article URL: https://www.msn.com/en-au/money/news/sobering-markdown-canva-slashes-valuation-by-10b-as-ai-reality-bites/ar-AA2a5i6F Comments URL: https://news.ycombinator.com/item?id=49299155 Points: 2 Comments: 1