Canva: Designing the Future of Business
Evolutionary Businesses are taking the world by storm and transforming millions of lives. Companies like Canva are leading the way in demonstrating how business can be a force for good in our world.
Yesterday, Canva, an Australian, female-led startup, announced new financing of $200 million at a $40 billion valuation. That’s impressive in and of itself. But far more impressive and valuable is the news from company founder and CEO, Melanie Perkins, that she and her co-founder are giving away the vast majority of their 30% equity stake in the company to do good in the world.
It’s unusual for founders to use their equity in this way while they are still leading a company, and it’s also atypical for founders to retain as much equity as this when a company is valued as highly as Canva. But times, they are a-changin’. Valuations are sky-high for private tech startups, so what’s a mission-driven founder to do? Use it for good. And now is always a good time.
The company has made it its mission to be a force for good from the get-go. They see this as a reason for being and a responsibility and a way to further grow their business. Business and doing good are not only not mutually exclusive, they’re also mutually beneficial! That’s Evolutionary Business.
There is no more impactful, scalable means to be of service than through business. Nonprofits can only do so much. Governments can only do so much. Business can do a ton.
But why should they? Because it’s good for business, as Melanie writes on her Medium post. And it’s their responsibility.
In the 1980s, during the days of Wall Street, Gordon Gecko, and “greed is good”, these ideas were quaint. Maybe a family-owned or small business would say something like what Melanie and Canva are claiming. But in 2021, with the planet and people suffering, we all have an opportunity and a responsibility to do more. She’s showing how it can be done at scale.
If you want details, please read Melanie’s Medium post. There are great ideas that all companies can engage in. You don’t have to wait until you’re a billionaire to give your money away. Build a purpose and vision for being a force for good into your company from the get-go through whatever practices are feasible at your stage. Hold yourself accountable to doing the most you can do to be of service at scale. Consider the value of your equity and how much you are willing to share with which investors.
You don’t have to be a B Corp. or a social venture. Every business can do this! And you should, because as Melanie presents, it’s good business!
As a final thought, here’s Melanie’s prediction for a future of Evolutionary Business:
“[We] truly believe that good for humanity is good for business…. There are some great examples of companies that do this already, for example, Patagonia is well known for building a beloved business that is doing good in the world…. We think this will happen more and more as the years go by, as more people are looking to work for and buy from companies that are aligned with their own personal values and are contributing to the world in a way that they believe is meaningful.”
- Melanie Perkins, Founder and CEO, Canva
