Ex-Disney CEO Bob Iger Acquires Stake in Canva – How Much Did the Investment Cost?
Australian design company Canva welcomes former Disney CEO Bob Iger as an investor and advisor after he acquired a stake in the closely held company, according to a report by CNBC on Sunday, May 29.
(Photo : Charley Gallay/Getty Images for Disney)
LOS ANGELES, CALIFORNIA – NOVEMBER 18: Disney Executive Chairman Bob Iger attends the Exclusive 100-Minute Sneak Peek of Peter Jackson’s The Beatles: Get Back at El Capitan Theatre on November 18, 2021 in Hollywood, California.
“Investor and Advisor”
Canva’s representative Lachlan Andrews said in a statement with CNBC that the design company is “incredibly excited to welcome” Iger as both an “investor and advisor.” He said that his rich experience of having one of the most “loved and creative brands in the world” enthralls the company to work with him.
Iger and Canva have not revealed the size or the amount of investment made. But back in September, Canva reported that they raised money, making the total company’s valuation at $40 billion, particularly after a successful $200 million funding round headed by T. Rowe Price, a global investment management company.
Canva is notably a female-led and female-founded tech firm with its CEO and co-founder Melanie Perkins, who also happens to be the second richest woman in Australia, according to an article by Entrepreneur.
CNBC reported that the company has more than 75 million monthly users and was set to achieve a $1 billion yearly revenue run in late 2021. The design company provides services for presentations, videos, photos, and various designs – which rivals Adobe, Microsoft, and several graphic design software companies.
Read Also: Disney+ Adds Almost 8 Million New Subscribers While Netflix Lags Behind
Iger’s Other Investments
Ever since Iger stepped down from his role as CEO of Disney last December, he has been investing his own money in various companies such as the toymaker company Funko and the delivery startup Gopuff.
On May 18, Iger became a part-owner of Gopuff, a startup that provides quick-delivery services across 1,200 cities in the world and has Selena Gomez as one of its investors.
The cost of Iger’s investment for the company was also not revealed, but he will also become an advisor alongside co-founders and co-CEOs Yakir Gola and Rafael Ilishayev and the team to expand Gopuff’s growth on a global scale.
The delivery company was founded back in 2013, and it has raised $4 billion to date with a total of $15 billion valuation. Among its top investors is Blackstone’s Horizon, Hedosophia, Adage Capital, Softbank, Fidelity, Guggenheim Investments, Eldridge, Altreides Management, and MSD Partners.
Meanwhile, on May 5, Iger took part in a consortium with sports agent Rich Paul, the Chernin Group, and eBay to buy a 25% stake in toymaker company Funko.
The investment was worth $263 million, which is around $21 per share. Iger and Chernin Group CEO Peter Chernin will serve as advisors to Funko’s board.
Iger is notable in the entertainment industry for Disney’s acquisition of Pixar, Marvel, Lucasfilm, and 20th Century Fox. Characters from these franchises have been a part of Funko’s product line for several years now.
Related Article: Disney+ Ads: Few Placements on Shows, Only Four Minutes Per Hour on Stream
This article is owned by Tech Times
Written by Joaquin Victor Tacla
ⓒ 2021 TECHTIMES.com All rights reserved. Do not reproduce without permission.