Side-by-side IPO readiness, funding history, and valuation comparison. Data sourced by TechStackIPO.
Scores, valuations, and signals for Canva, Substack, and 370+ companies. 5-min read every Tuesday.
Canva is the world's leading design platform with 250M+ users — valued at $48B with $770M raised. Track IPO timeline, funding rounds, and readiness score.
| Industry | Design & Creative |
| Stage | Pre-IPO |
| IPO Status | Private |
| Valuation | $42B |
| Total Funding | $770M |
| Headquarters | Sydney, Australia |
Substack is the newsletter publishing platform enabling writers, journalists, and creators to build paid subscription audiences and monetize their expertise directly. Valued at $650M with $65M raised, Substack has paid out $500M+ to creators and hosts 2M+ active publications. Major creator economy IPO candidate as newsletter-based publishing becomes a legitimate independent media category.
| Industry | Media Technology |
| Stage | Series C |
| IPO Status | Pre-IPO |
| Valuation | $750M |
| Total Funding | $140M |
| Headquarters | San Francisco, CA |
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Canva is valued at $42B. Substack is valued at $750M. Both figures are based on the most recent funding rounds tracked by TechStackIPO.
Canva reported 4000000000 revenue in 2025. Substack's revenue is not publicly disclosed. Revenue figures are sourced from TechStackIPO's company database and updated as new data becomes available.
Canva filed an S-1 in November 2025 and is actively in the IPO pipeline. Substack is currently pre-IPO. Track both companies on TechStackIPO for S-1 filings, roadshow announcements, and IPO date updates.
Canva has raised $770M. Substack has raised $140M.
Canva operates in Design & Creative, while Substack operates in Media Technology.
Canva is a Design & Creative company valued at $42B with $770M raised. Substack is a Media Technology company valued at $750M with $140M raised. See TechStackIPO's full side-by-side comparison for IPO readiness scores, funding timelines, and investor access options.
Accredited investors can access pre-IPO shares in Canva and Substack through secondary market platforms, pre-IPO funds, and broker-dealer platforms that facilitate private company transactions. TechStackIPO's marketplace section tracks available access options for both companies. Pre-IPO investments carry higher risk and limited liquidity.