![]() To do that, Adobe will likely look more to the model of LinkedIn, which Microsoft acquired for $26 billion in 2016, and which Microsoft left running largely independently in years since under former CEO Jeff Weiner (incidentally, a mentor of Field’s).Ī big part of that is retaining Field and his top lieutenants, and Adobe is paying a premium to do so. Beyond just taking a potential existential threat off the table, buying Figma also creates an opportunity to grow that business by integrating it into Adobe’s wider user base. (Wallace left the company in 2021).Īdobe’s stock is down more than 20% since the announcement, evaporating $29 billion in market capitalization and helping cause several prominent analysts to cut their ratings.Īdobe’s reasons for doing the deal, even at such a rich price, are simple, analysts say: The move pulls Adobe into the cloud, an area where it’s historically struggled to gain traction, while reaching a new cohort of design software customers. ![]() The proposed acquisition, which the companies said they expected to close in 2023, has provoked backlash among some Adobe investors concerned about its cost - 50 times Figma’s expected revenue for the year - and among some Figma fans in the design community, who turned to memes and reshared a Field tweet from 2021 that “our goal is to be Figma and not Adobe.“ The deal will make Field and cofounder Evan Wallace billionaires.
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