Canva is delaying its IPO until 2027, according to co-founder and COO Cliff Obrecht. The Sydney-based design platform, last valued at $65 billion in a secondary market sale, is waiting for its AI pricing model to stabilise before listing.
"We're fully IPO ready," Obrecht told Capital Brief at Canva's LA product launch. "We want to make sure the evolution of this business model is really bedded in so we're not having to explain ourselves to the market through a transitional period."
The delay matters because it signals how Canva is repositioning itself: from a design tool with predictable SaaS revenue to an AI platform with usage-based pricing. That shift changes the sales motion. Enterprise deals get more complex when pricing is tied to consumption, not seats. Sales teams need to understand customer usage patterns, not just user counts.
Canva employs 3,000-4,000 globally, with significant operations in Sydney and Melbourne. Specific ANZ headcount and sales team size are not public, but the company has been on an acquisition spree: eight startups in two years, including last week's $100 million-plus acquisition of Simtheory and Ortto.
The IPO timeline matters for ANZ tech sales professionals watching comp trends. When Canva eventually lists, it will set benchmarks for equity compensation at scale-up tech companies in the region. Until then, secondary sales remain the only liquidity option for employees.
Obrecht's comments suggest the company is prioritising product-market fit for its AI features over near-term public market pressure. That is a luxury most startups do not have. It also means anyone considering a sales role at Canva should factor in a longer equity lockup than originally expected.
Worth noting: Canva's last valuation was set by a staff share sale programme, not an external funding round. That number reflects what employees could get for their shares, not what institutional investors were willing to pay in a priced round.