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Why Did Canva Go Wrong?

Last updated on September 27, 2022 @ 3:45 pm

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Canva, an online design platform, is one of Australia’s hottest startups. The company was founded in 2012 by Melanie Perkins, Cliff Obrecht and Cameron Adams.

Canva has raised over $US60 million from investors such as Sequoia Capital, Felicis Ventures, Blackbird Ventures, Matrix Partners and Tiger Global Management. The company is now valued at $US1 billion.

So, what went wrong?

In May of this year, Canva was hit with a major data breach. Over 137 million user accounts were affected by the breach, which exposed user passwords, email addresses and contact information. Canva has since reset all user passwords and notified affected users.

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This was a major setback for the company, which had built its reputation on being a secure and reliable platform for users to create designs. Canva had also been growing rapidly, with over 10 million users worldwide. The data breach has put a dent in the company’s reputation and growth prospects.

Another problem for Canva is that it is facing increasing competition from other design platforms such as Adobe Photoshop and Sketch. These platforms have more features and are more established in the market. Canva will need to continue to innovate to stay ahead of the competition.

The data breach was a major setback for Canva, but the company is still growing rapidly and has a strong user base. However, it will need to continue to innovate to stay ahead of the competition.

Kathy McFarland

Kathy McFarland

Devops woman in trade, tech explorer and problem navigator.