Cursor (Anysphere) vs Canva: employee equity compared
Secondary market prices, valuation trajectory, equity structure, and liquidity outlook for employees choosing between Cursor (Anysphere) and Canva.
Cursor (Anysphere)
AI-native IDE built on a fork of VS Code.
IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
High-growth AI play; ISO/NSO options; fast-moving valuations reward timing
Canva
Visual design platform with 185M+ monthly active users across 190 countries — the Google Docs of graphic design.
IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
Predictable B2B ARR; RSU (no exercise cost); exit via IPO or strategic buyer
Key differences for employees
Equity structure
Cursor (Anysphere) grants ISO/NSO with strike prices ranging from $150–$190 depending on your grant year. Canva grants RSU — no exercise cost.
Secondary market premium
The secondary market is pricing Cursor (Anysphere) at a +0% premium over its last primary round ($29.3B → $29.3B). Canva trades at +4% over its last round ($26B → $27B). A higher secondary premium signals stronger investor demand and potentially better near-term liquidity for employees looking to sell.
Revenue and growth
Cursor (Anysphere) runs at $2B ARR, growing +500% YoY (hypergrowth). Canva runs at $2B ARR, growing +40% YoY (solid). Revenue growth rate matters for equity because it drives the peer-multiple valuation — the method most correlated with exit multiples.
Liquidity timeline
Cursor (Anysphere): IPO plausible 2027–2029 if growth trajectory holds. Liquidity may come via tender offer or strategic acquisition before listing.
Canva: IPO plausible 2027–2029 if growth trajectory holds. 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.