Source: T. Rowe Price has marked down its stake in Canva by 67.6%
Summary
Mutual fund T. Rowe Price has adjusted the valuation of its stake in the design platform Canva by 67.6% to $13 billion, down from its previous investment of $40 billion in 2021. The change is due to a markdown on Canva’s value when compared with publicly-listed peers. Canva claims it has increased metrics “despite the broader market conditions”, stating it has exceeded 135 million users, generating annualised revenue of $1.5 billion and remained profitable.
Fact
💸 T. Rowe Price has marked down the value of its stake in Canva by 67.6% to $13 billion, down from $40 billion.
📈Canva claims it has increased metrics “despite the broader market conditions”, exceeding 135 million users, generating annualised revenue of $1.5 billion, and remained profitable.
👨💼T. Rowe Price’s Blue Chip Growth Fund values its Canva shares on a cost-adjusted basis at $32.1 million, and invested $99.1 million in Canva, according to the prospectus dated March 31, 2022.