Canva’s next big move ahead of IPO
Canva’s next big move.
Unicorn start-up Canva has announced its next big move as it looks to embark upon another phase of growth ahead of its proposed NYSE listing.
The Aussie business has revealed plans for a flagship Sydney campus, scheduled to open in 2026.
Canva, which has been estimated to be worth as much as $40 billion, has just submitted a development application for 8 Kippax St, Surry Hills after buying the building last year.
The building sits just a block from Central Station with easy access to transport, local amenties and eateries.
According to reports, Canva, an online design and publishing tool, paid around $120m for the building marketed by Knight Frank’s Ben Schubert and Jonathan Vaughan.
The building occupies a 1037 sqm site with three street frontages and boasts 8568 sqm over 10 storeys.
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Canva is aiming to reuse the existing building as much as possible.
Canva currently occupies several smaller offices spaces in the surrounding streets.
On announcing the DA, Canva said “The new office is set to play an enormous role in the company’s plans to accelerate growth as it doubles down on fuelling visual communication in the enterprise sector.
“Despite no return-to-office mandate, the 12,000 sqm development also signals Canva’s continued investment in growing its team whilst championing hybrid work, rooted in flexibility and connection.
“This comes following an exponential year of growth, which saw the Canva team expand by 1,128 to 4,000 people worldwide.”
Over the past 12 months Canva has opened new offices in Melbourne, Austin, Texas and its first European location in London.
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The refurbished building will have a green roof to foster biodiversity and generate green energy.
The new Canva building sits in a growing area, across the road from the Australian headquarters of News Corp. It is just down the road from the office in which Canva started a decade ago. Blackmores and Sony also call Surry Hills – considered one of Australia’s strongest performing office regions – home.
“A big part of being a force for good is taking our responsibility to sustainability seriously,” Canva said in a statement about the new building.
“We’re taking a “do more with less” philosophy to the overall design of this new campus by aiming to reuse the existing building as much as possible, and only rebuild where necessary to meet current standards or optimise sustainability.
How the building looks now.
Canva’s co-founders Cliff Obrecht, Melanie Perkins and Cameron Adams. Picture: Britta Campion / The Australian
“We’re disconnecting gas, powering all energy usage with renewable electricity, and introducing a green roof to foster biodiversity and generate green energy.
“Promoting and nurturing connection with local communities has also been an important part of how we’ve designed our existing spaces.
“To continue this, our new Sydney Campus will feature various communal areas for cafes, bars, outdoor spaces, events, volunteering, and collaborative work with the goal of bringing our teams and community together.
“We also plan to create child-friendly zones, replace 55 car spaces with a gym, bike parking, e-charging stations, and end-of-trip facilities, and build wellness areas for fitness and meditation.”
Founders Cliff Obrecht, Cameron and Melanie Perkins established the high-flying Canva 10 years ago.
Latest reports say Canva will likely list on the New York Stock Exchange in 2025 or 2026.
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