Former Disney CEO Bob Iger takes a stake in Australian design company Canva

Former Disney CEO Bob Iger bought a stake in Australian design firm Canva and agreed to serve as an adviser to the private company.

“We are extremely excited to welcome Bob Iger as an investor and advisor,” Canva spokesperson Lachlan Andrews said in a statement. “Bob brings a wealth of experience after 15 years leading one of the world’s most beloved and creative brands and we look forward to working with him.”

Iger and Canva declined to comment on the size of the investment. Canva raised funding in September, valuing the company at $40 billion. The graphic design software company earned the No. 4 ranking on CNBC’s annual Disruptor 50 list, released earlier this month.

Canva has more than 75 million monthly users and was on track to hit an annualized revenue rate of $1 billion by the end of 2021, CNBC reported. The Sydney-based company helps people create presentations, videos and other designs, competing with Adobe, Microsoft and other graphic design software companies.

Since leaving Disney in December, Iger has invested his own money in several ventures, including delivery startup GoPuff and toymaker Funko.

WATCH: Bob Chapek and Bob Iger’s strained relationship

Comments are closed.