Emma Rapaport and Paul Smith reported the markdown for the Australian Financial Review on 14 August.
The figure appears two ways and both are correct. It is $7.1bn in US dollars, and A$10bn, which is the number most headlines carried.
The cut takes Blackbird and Airtree’s mark from $42bn to $34.9bn, a drop of 17%. Both firms are among Canva’s longest-standing backers.
The bigger cut came from inside
Canva’s own independent valuation has moved further than its investors’ did. The AFR notes that the internal downgrade surpasses theirs.
