Last week Canva — the Australian graphic design company that provides a digital platform used around the world to create social media graphics, presentations, posters, documents, and other visual content — became the world’s fifth-most valuable private startup after its value rose to $40 billion.

This is a very impressive achievement for a company that got its start in 2013 as a free service. It quickly became a go-to design platform for small businesses and anyone looking to create eye-catching posters that were aligned with the latest trends and fashions. Its good fortunes have since come from its decision to add paid versions for power users and larger companies.

Canva now has over 60 million monthly active users in 190 countries and a staff of over 2000 people with headquarters in Sydney and Manila. In addition, its business plan is used by major global brands such as Marriott International, Zoom, PayPal, and American Airlines. It has become one of Australia’s most valuable companies and moving forward it will be expanding into web design and video editing tools.

Let’s see how this will shape what we see on our screens.