Canva's IPO Rumors Rise Amid Figma's Success and OpenAI's $500B Valuation Talks

Saturday, Aug 9, 2025 1:14 am ET1min read

Canva is gaining attention as a potential IPO candidate following Figma's successful debut. Meanwhile, OpenAI is in early-stage discussions about a stock sale that could value the company at $500B, a significant bump from its current valuation of $300B. Other notable capital raises include Strand Therapeutics' $153M Series B financing and beatBread's $124M credit and equity capital. Unicorns to watch this week include Canva, Celonis, and Databricks.

Following Figma's sensational IPO last week, the tech industry is abuzz with speculation about the next big IPOs. Canva, the design collaboration platform, is gaining significant attention as a potential candidate, while OpenAI is in early-stage discussions for a stock sale that could value the company at $500 billion [1].

Canva: A Strong Candidate for IPO

Canva, with its robust financials and strong market position, is seen as a prime candidate for an IPO. The company generates $3 billion in annual revenue and has a user base of over 230 million, with a 95% penetration rate among Fortune 500 companies. Unlike Figma, which is a relatively newer player in the design software market, Canva has been profitable since 2017, providing a significant downside protection and justifying premium multiples [2].

The Figma IPO has set a new benchmark for design software valuations. With Figma's current revenue multiple of approximately 68.6x, Canva could realistically target an IPO valuation between $195-210 billion, representing a 65-70x revenue multiple [2].

OpenAI: In Early-Stage Discussions for Stock Sale

OpenAI, a leading AI startup, is in early-stage discussions about a stock sale that could value the company at $500 billion. This is a significant bump from its current valuation of $300 billion. OpenAI's high valuation reflects its innovative AI technology and potential market dominance. However, the company has significant incentives to remain private, as it avoids public scrutiny and has access to private capital for liquidity infusions [1].

Other Notable Capital Raises

In other news, Strand Therapeutics secured $153M in Series B financing, and beatBread raised $124M in credit and equity capital. These capital raises indicate continued investor confidence in the biotech and fintech sectors, respectively [1].

Conclusion

The tech industry is witnessing a renewed interest in IPOs following Figma's successful debut. Canva, with its strong fundamentals and market position, is a strong candidate for an IPO, while OpenAI is in early-stage discussions for a stock sale that could significantly increase its valuation. The coming months are likely to see more IPO activity as companies capitalize on the current market conditions.

References

[1] https://fortune.com/2025/08/04/figma-ipo-who-is-next-tech-industry-insiders-top-picks-startups-venture/
[2] https://www.saastr.com/after-figmas-massive-ipo-could-canva-ipo-at-200-billion/

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