Christmas came early. Adobe no longer acquiring Figma.
WOW!
Myself and thousands of other designers were not happy about the merger news despite the founder being excited about it. Sucks for them, but ultimately great for design community I think.
https://www.figma.com/blog/figma-adobe-abandon-proposed-merger/
This is great news!
Indeed! I know I shouldn't be the happy about mergers or lack thereof but I am haha
My coworker just told me the original deal was $20 billion to buy Figma. For that amount of money, you should be able to start a space colony orbiting Saturn AND build a better Figma-like product. And Figma got a $1 billion termination fee. Clown world economics.
So glad to hear that
Yeah, Adobe would have butchered figma. They’d make marginal improvements no one asked for and squeeze the users for every penny to justify acquisition cost.
It sounds like the merger was abandoned because of regulatory reasons, the only one I can think of would be that it would create a monopoly in the space. But that seems kind of far-fetched
Yeah so it sounds like. It would absolutely create a monopoly but sooner or later they’d anger enough designers that another startup would eat their lunch.
🙌
