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

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

“We’re extremely excited to welcome Bob Iger as an investor and advisor,” mentioned Canva spokesman Lachlan Andrews in a press release. “Bob brings a wealth of expertise after 15 years at the helm of one of the beloved and most artistic manufacturers in the world and we’re trying ahead to working with him.”

Iger and Canva declined to touch upon the scale of the funding. Canva raised cash in September, valuing the company at $40 billion. The graphic design software program company earned the No. 4 rating 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 folks create shows, movies and different designs, competing in opposition to Adobe, Microsoft and different graphic-design software program companies.

Since stepping down from Disney in December, Iger has been investing his personal cash in a number of corporations, together with delivery startup GoPuff and toy maker Funko.

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