Canva’s private valuation has faced sustained pressure from recent investor markdowns, with Blackbird Ventures cutting its mark 17% to $34.9 billion in August 2026 and T. Rowe Price and Franklin Templeton trimming holdings 6-9% to implied levels of $38.2-39.3 billion. Secondary market quotes and employee-share valuations have traded even lower near $30-37 billion, reflecting slower revenue growth—now projected at 20% versus the prior 30% target—alongside elevated AI infrastructure costs despite $4 billion in annualized recurring revenue. Continued AI feature rollouts, including ChatGPT integrations and acquisitions such as MagicBrief, support usage metrics, yet the absence of a near-term IPO or major funding round leaves limited catalysts before year-end to reverse the downward repricing trend.