Adobe Acquires Design Company Figma For 20 Billion
Founded in 2012, San Francisco-based Figma enables software developers and designers to collaborate remotely and design everything from presentation slides to mobile app user interfaces. Along with Australian start-up Canva, it is part of a wave of new browser-based design tools that have opened up the creative process to millions of non-designers, expanding the market and presenting a potential threat to Adobe, the traditional leader in design software . The purchase price, which will be paid half in cash and half in stock, is twice what Figma was valued at in its most recent private financing round last year and 10 times its valuation in 2019, despite the recent collapse of software stocks....