Canva is rolling out its low-cost subscription tiers to additional emerging markets to expand its user base for creative design software, after success in India.

Canva launched a 69-rupee ($0.79) daily plan last year in India, which aided the company's strong growth in its fourth-largest market. The same low-cost model is now being offered in Indonesia, and Canva is considering doing the same in other markets in Asia and Latin America, Chandrika Deb, country manager for India at Canva, said in an interview at a news conference in New Delhi.

Headquartered in Sydney, Canva is one of the closest competitors to Adobe Inc. and is targeting high-growth geographies to tap first-time customers for its publishing, photo-editing, and illustration software used extensively by social media influencers. The company has been profitable for a few years now and is a top pick to go for a public listing.

We're certainly contemplating what an IPO would be and what we would need to have to get to that point," co-founder Cameron Adams said during his first trip to India. "This trip is primarily around the Indian market and seeing our fast-growing team, which doubled in the last year.

Canva has surpassed $2.5 billion in annualized revenue and has more than 220 million active monthly users, of which around 24 million are paid subscribers, Adams said. While exact numbers for profits, employees, or users in India were not shared, the company mentioned that its Indian customer base comprises large technology firms, startups, and small to medium-sized businesses.

Worth $32 billion, Canva has collaborated with governments in Indonesia, Poland, and the Philippines to offer design tools to these nations' citizens. Adams added that the company plans to launch similar programs in India.

"One of my primary objectives is to travel to schools in India to see how they are utilizing our platform and look for opportunities to reach even more users," Adams said. "Education usage in India has been incredible growth."

With its emphasis on growth markets and low-cost pricing models, Canva is positioning itself as a global leader in design software while setting the stage for future growth and a potential IPO.