Adobe × Figma Acquisition
Company Overview
On September 15, 2022, Adobe announced its plans to acquire browser-based design startup Figma in a cash and stock deal worth about $20 billion. However, in December 2023, Adobe and Figma announced that they would mutually terminate the merger agreement due to regulatory opposition. Adobe will pay Figma a termination fee of $1 billion, per the agreement. According to Latka, Figma earned $190M revenue from 50K customers in 2022. The company finished the following year with over $600 million in annual recurring revenue. Despite this, according to NYT, Figma has been picking up the pieces in 2024, and reportedly internally lowered their valuation to $10 billion half of what Adobe was willing to pay in 2022.
Business Model
B2B
Customer Model
Other
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