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February 17, 2022

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
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"Learn photoshop" has been on my aspiration list for about ten years. When you have a self-improvement goal in mind but none of the resolve to take the class, watch the Youtubes, or sign up after the Adobe trial expires, it can lead to a nagging feeling. Finally, I can do what I once did with my ambition to play the piano, retire it and move on with my life. Luckily for me, a couple of entrepreneurs saw the high-learning curve to design tools like Photoshop as a business opportunity. Now there is Canva.

For those of you who don't know, Canva is a drag and drop tool for designing good-looking resumes, presentations, marketing materials, and more. They offer a variety of templates that are hip to the day's trends. Most of it is free, but there are membership options for greater access to tools and templates. Just check out their metrics to see how resonant their product is:

This Twitter thread breaks down the trajectory of the business, from a nineteen-year-old selling design classes with her boyfriend to a yearbook design company that quickly became the largest in Australia. They took the tools they had created and finally to Canva, a company now worth $40BN. In a venture landscape pockmarked with outsized valuations, this company shows that starting small and solving a unique pain point is pure and simple good business.

Amazon v. NYC
Amazon will face another Union challenge, this time in New York's Staten Island borough.
[WSJ]
Dad issues
Twitter's new CEO will take some paternity leave, a shift for SV culture.
[Axios]
Since last week, PrivCo has added:
2,094 Companies | 225 Funding Activities | 169 M&A Deals

Funding & Deal Highlights:

 

Papier raises $50MM from Singular 

Cards & Stationery • Round C • London, UK
 

Glance raises $200MM from Reliance Industries 

Personalization • Round D • Bengaluru, India
 

PriorAuthNow raises $25MM from Insight Partners

Insurance • Equity • Columbus, OH
 

Evolve Vacation Rental Network raises $100MM from Durable Capital

Rental • Equity • Denver, CO
 

Harborside borrows $45.4MM from Pelorous Equity Group

Cannabis • Debt • Oakland, CA
 

Hoteam Software raises $63MM from Legend Capital

CAD • Round C • Jinan, China
 

Shinsegae.com raises $251MM from Affinity Equity Partners

PaaS • Equity • Seoul, S. Korea
 

Smartron raises $200MM from The Global Emerging Markets Group

Internet of Things • Equity • Hyderabad, India
 

Yellow Swan raises $94.9MM from Fengshion Capital

Food • Round C • Chengdu, Sichuan
 

Databook Labs raises $50MM from Bessemer Venture Partners

CRM • Round B • Palo Alto, CA
 

Soul Machines raises $70MM from SoftBank Vision Fund 

Software • Round B-1 • Auckland, New Zealand
 

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