PrivatePulse·Companies·Canva vs Applied Intuition

Canva vs Applied Intuition: employee equity compared

Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Canva and Applied Intuition.

Secondary market data updated monthly · Sources: Hiive, Forge

Canva

SaaS · Sydney, Australia · Founded 2012

Visual design platform with 185M+ monthly active users across 190 countries — the Google Docs of graphic design.

Last primary round$26B · Secondary / Tender (2023-10)
Secondary market$27B (+4% vs primary)
Annual revenue$2B ARR · +40% YoY (solid)
Headcount~4,500
Equity typeRSU
Illiquidity discount~18%
Last round leadInternal / Existing Investors
Liquidity outlook

IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.

Key equity angle

Predictable B2B ARR; RSU (no exercise cost); exit via IPO or strategic buyer

Full Canva profileCalculate my equity
↑ Higher secondary premium

Applied Intuition

Defense · United States · Founded 2017

Autonomous vehicle and ADAS software platform; tools for simulation, data management, and validation used by 19 of the 25 largest global automakers.

Last primary round$15B · Series F (2024-09)
Secondary market$16.6B (+11% vs primary)
Annual revenue$0.3B ARR · +200% YoY (very fast)
Headcount~700
Equity typeISO/NSO
Strike price range$60–$100 (depends on cohort)
Illiquidity discount~18%
Last round leadLux Capital / Andreessen Horowitz
Liquidity outlook

IPO plausible 2027–2029 if growth trajectory holds. Secondary indication near primary round valuation. Liquidity may come via tender offer or strategic acquisition before listing.

Key equity angle

Government-contract stability; ISO/NSO options; longer liquidity timeline vs consumer tech

Full Applied Intuition profileCalculate my equity

Key differences for employees

Equity structure

Canva grants RSU — no exercise cost. Your equity vests and converts to cash or shares automatically at a liquidity event. Applied Intuition grants ISO/NSO with strike prices from $60–$100.

Secondary market premium

The secondary market is pricing Canva at a +4% premium over its last primary round ($26B → $27B). Applied Intuition trades at +11% over its last round ($15B → $16.6B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.

Revenue and growth

Canva runs at $2B ARR, growing +40% YoY (solid). Applied Intuition runs at $0.3B ARR, growing +200% YoY (very fast). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.

Liquidity timeline

Canva: IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.

Applied Intuition: IPO plausible 2027–2029 if growth trajectory holds. Secondary indication near primary round valuation. Liquidity may come via tender offer or strategic acquisition before listing.

Calculate your specific grant

Enter your actual shares, equity type, and strike price. PrivatePulse calculates your personal equity value at both companies using 4 independent methods.

Calculate at Canva →Calculate at Applied Intuition →

Frequently asked questions

Is Canva or Applied Intuition a better company to work at for equity?↓
There's no universal answer — it depends on your risk profile, time horizon, and specific grant terms. Canva at $26B and Applied Intuition at $15B offer very different risk/reward profiles. Use the calculator above to model your exact grant at each company.
How do I know if my Canva or Applied Intuition equity is fairly priced?↓
Compare your grant's implied per-share value against the secondary market price. If investors are paying a premium on Hiive or Forge over the last primary round, that's a signal of strong demand. PrivatePulse shows you the gap between your 409A and what the secondary market says.
Can I sell my Canva or Applied Intuition shares on the secondary market?↓
Secondary market transactions (Hiive, Forge, Caplight) require accredited investor status and your company's consent — most private companies have right-of-first-refusal (ROFR) provisions. Tender offers, when available, are typically the most accessible path to partial liquidity for employees.

More equity comparisons

1password vs arctic-wolf1password vs vanta1password vs verkadaalchemy vs anchorage-digitalalchemy vs chainalysisalchemy vs fireblocksanduril vs applied-intuitionanduril vs canvaanduril vs checkout-comanduril vs chimeanduril vs coreweaveanduril vs cursor