🖼 Canva's big $40B

...and Rivian beats Tesla and GM on e-trucks [Disclosures](   The world is your canvas [Westend61 via GettyImages]   Yesterday’s Market Moves   Dow Jones 34,814 (+0.68%) S&P 500 4,481 (+0.85%) Nasdaq 15,162 ( +0.82%) Bitcoin $48,113 (+2.33%) Dow Jones 34,814 (+0.68%) S&P 500 4,481 (+0.85%) Nasdaq 15,162 ( +0.82%) Bitcoin $48,113 (+2.33%) Hey Snackers, Lots of startup ideas sound like: "The Uber for..." "The Facebook of..." This one has no parallel: Colossal raised $15M to bring the woolly mammoth [back to life]( from extinction. Stocks rebounded yesterday with their best daily gain in two weeks, as oil and the energy sector rallied. BTW: We know some of you aren't snacking today. Happy New Year and an easy fast to Snackers observing [Yom Kippur]( Tap Design startup Canva notches a massive $40B valuation in the era of "tap-onomics" Presentation deck looking like a Picasso... Sydney-based startup Canva wants to make graphic design accessible to non-design pros. You might've used it to create snazzy flyers, Insta carousels, and that presentation you forgot was due yesterday. Those DIY design templates just helped Canva [raise]( $200M at a whopping $40B valuation, up from $15B barely five months ago. - The big $40B: With its new valuation, Canva is now the world’s [most valuable]( female-founded and female-led startup — and the world's fifth-most valuable private startup. Like a blank Bob Ross canvas... Canva went 0 to 60 real quick. CEO Melanie Perkins and her team launched Canva as a free product in 2013, and eventually introduced "freemium" and enterprise layers. Canva now has: - 60M monthly users across 190 countries, double what it had just over a year ago. And it's not just individuals looking for design help... - 500K+ teams pay for Canva, including corporate giants like Salesforce, Marriott, PayPal, and American. In 2019, Canva [said]( 85% of Fortune 500 companies use it. - $1B: Canva has been [doubling]( its revenue each year, and is expected to exceed $1B in annualized revenue by the end of 2021. THE TAKEAWAY Canva is fuel for the era of “Tap-anomics”... We've gone from in-store shopping, to Instagram shopping. During the pandemic, corporate America realized the importance of tap-ability: the number of "taps" companies receive is closely related to their posts' aesthetic. Companies don't need to hire a million pro designers — they just need professional-looking designs that are easy for employees to collab on. That simplicity helped Canva notch its eye-watering valuation. R1T Rivian is the first to bring an e-pickup to market — but the truck wars are just beginning Sorry, Elon… Earlier this week, Rivian produced the first electric truck that will actually end up in customers’ driveways — competitors like [Tesla]( [Ford]( and [GM]( merely unveiled prototypes. The e-truck startup has raised $10.5B+ from investors including [Amazon]( and Ford, and is [seeking]( to go public at an $80B valuation. The deets on its R1T pickup: - Fully charged: The R1T has a range of 314 miles per charge and starts at $68K — a longer range, but higher price tag than most upcoming e-trucks. - Fully stocked: R1Ts come with off road-ready air compressors, built-in drink coolers, 11K pound towing capacity, and tailgates that can be lifted via app — bound to impress at any MIT tailgate. - Ready to roll: R1Ts trucks are now certified for sale in all 50 states. Rivian expects deliveries to start this month. A truckload of competition… Some analysts expect the e-truck industry will more than double between 2020 and 2026. Large automakers like Ford, GM, and Tesla have spent years developing smaller EVs. But by staying laser-focused on trucks, Rivian crossed the e-truck finish line first. Others are expected to follow: - Tesla expects to start production of its $40K Cybertruck in 2022. - [Lordstown]( plans for limited production of its $55K Endurance this month. - GM says production of its $113K Hummer EV will begin later this fall. - Ford hopes to start producing its $40K all-electric F-150 Lightning in 2022. The non-electric version has been America’s top-selling vehicle for 39 years straight. THE TAKEAWAY Trucks could be the real EV ambassadors… America may be the home of the brave, but it’s also the land of the F-150. Pickup trucks accounted for half of the US auto industry’s top 10 best-selling vehicles last year, and the three best-sellers were all pickups. The best bet for automakers to pull Americans into an EV future could be towing them there... with e-pickups. If the US builds as many EV charging stations as Biden hopes, the success of e-truck makers may come down to pricing, timing, and range. What else we're Snackin' - [Vax]( President Biden met with the CEOs of giants like [Disney]( [Microsoft]( and [Walgreens]( to drum up support for employee vax mandates. - [Macro]( [Microsoft]( will buy back $60B of its own stock in its largest-ever repurchase program. - [Jibbitz]( [Crocs]( shares soared to a record after the ugly-chic icon said it expects sales to surge over $5B by 2026. - [Robo]( [Ford]( [Walmart]( and self-driving startup Argo AI are teaming up to launch an autonomous vehicle delivery service. - [UniTube]( Spanish language TV giant Univision just made three of its networks available for streaming on YouTube TV. - [Ace]( Roger Federer-backed shoe company On is now valued at over $6B before it steps into its IPO. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. The Snacks Daily Podcast It's not just you… McDonald’s McFlurry machines keep breaking — and even the FTC cares. [Tune in]( to hear how McFlurry-Gate could affect way more than just soft-serve. Snack Fact Of the Day [US poverty fell to 9% last year, after accounting for government aid — it's the lowest rate on record, down from 11.8% in 2019]( Thursday - Jobless claims - National Guacamole Day Authors of this Snacks own shares of: Tesla, Ford, Disney, Walmart, Microsoft, and GM ID: 1839045 Robinhood Snacks newsletters and podcasts reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are meant for informational purposes only, are not intended to serve as a recommendation to buy or sell any security in a self-directed Robinhood account or any other account, and are not an offer or sale of a security. They are also not research reports and are not intended to serve as the basis for any investment decision. 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