Former Disney CEO Bob Eiger acquires a stake in Australian design firm Canva for $40 billion

Former Disney CEO Bob Eiger acquires a stake in Australian design firm Canva and has agreed to serve as an advisor for owner-managed companies.

“We are excited to welcome Former Disney CEO Bob Eiger also an investor and advisor,” Canva spokesperson Lachlan Andrews said. “Bob has a wealth of experience after 15 years of leading one of the most beloved and creative brands globally. Also we look forward to working with him.”

Iger and Canva declined to comment on the size of the investment

Canva raised the money, valuing the company at $40 billion. This graphic design software company earned No. 4 on news annual 50 Disruptors list, released earlier this month.

Canva has more than 75 million year users and is on pace to reach $1 billion in annual sales by the end of 2021, news reports. This Sydney-based company helps people create presentations, videos. And other designs by competing with Adobe, Microsoft, also other graphic design software companies.

After retiring from Disney in December, Eiger invested his own money in several ventures, including startup GoPuff and toymaker Funko.