Technology

Ex-Disney CEO Bob Iger takes stake in Australian design company Canva, which has been valued at $40 billion

Bob Iger poses with Mickey Mouse attends Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles.
Valerie Macon | AFP | Getty Images

Former Disney CEO Bob Iger has acquired a stake in Australian design company Canva and agreed to be an advisor to the closely held company.

“We’re incredibly excited to welcome Bob Iger as an investor and advisor,” said Canva spokesman Lachlan Andrews in a statement. “Bob brings a wealth of experience after 15 years at the helm of one of the most loved and most creative brands in the world and we’re looking forward to working with him.”

Iger and Canva declined to comment on the size of the investment. Canva raised money in September, valuing the company at $40 billion. The graphic design software company earned the No. 4 ranking on CNBC’s annual Disruptor 50 list, released earlier this month.

Canva has more than 75 million monthly users and was on pace to reach a $1 billion annualized revenue run rate in late 2021, CNBC reported. The Sydney-based company helps people create presentations, videos and other designs, competing against Adobe, Microsoft and other graphic-design software firms.

Since stepping down from Disney in December, Iger has been investing his own money in several companies, including delivery startup GoPuff and toy maker Funko.

WATCH: Bob Chapek and Bob Iger’s strained relationship

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