Adobe, a creative design software company, has announced an acquisition of Figma, an web design application, for $20 billion, in an attempt to take on its biggest rival.
אַדאָובי פּלאַנז to merge some of the existing features, like photography, illustration, and video technology, with Figma’s products. Adobe provides paid features like Illustrator, Photoshop, Behance, Premiere Pro, and others.
“The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity,” Adobe CEO Shantanu Narayen said.
Founded in 2012, Figma is anticipating generating over $400 million this year, according to CNBC sources. The previous investors in the web design platforms include the likes of Index Ventures, Kleiner Perkins, and Greylock Partners.
Dylan Field, the CEO of Figma, seemed to be excited about the partnership, saying there is “a huge potential” for both companies and features designers can get from this collaboration, he explained during an interview with בלומבערג.
Adobe President of Digital Media Business, David Wadhwami, is not alarmed by the fact that this acquisition deal happened during the global market downturn. He believes Figma is one of the best companies to acquire at this point, as he evaluates it as cash flow positive, with a net dollar retention rate of over 150%.
Source: https://beincrypto.com/adobe-to-acquire-figma-in-merger-that-might-boost-visual-nft-initiatives/