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Latham & Watkins Advises Canva in Secondary Share Sale

April 11, 2024
Cross-border team represented the technology unicorn in the secondary sale to institutional investors.

Canva, Inc., an online visual communications platform which provides users with design tools and access to a vast library of design assets to create and publish content, has closed a secondary share sale in which institutional investors acquired shares directly from existing stockholders of the company. The minority transaction provided liquidity to certain employees and investors of Canva globally at a valuation that solidified the company as one of the highest valued private technology companies in the world and further bolstered an impressive list of investors in the company.

Latham & Watkins LLP represented Canva in the transaction with an Emerging Companies & Growth team led by Bay Area partners Mike Podolny, Ben Potter, and Tad Freese, with associates Eduard Grigoryan, Justin Tzeng, Daniel Khalessi, and Teddy Ulin. Advice was also provided on benefits and compensation matters by Bay Area partner Ashley Wagner; on tax matters by Bay Area partner Kirt Switzer; and on US securities regulatory matters by members of the National Office of Latham & Watkins LLP.