Technology

Shocking: Adobe to Buy Figma, their big competitor for $20 billion

If you were a part of Adobe's board, would you say no to an offer that's more than double your valuation? Lol. Exactly.
3 min read

Adobe announced it would buy Figma, a design and collaboration software company. This acquisition is Adobe’s first in the design space and signals its intent to expand its creative offerings. The news came yesterday, and designers were shocked.

20 billion dollars is a big deal. If you were a part of Adobe’s board, would you say no to an offer that’s more than double your valuation? Lol. Exactly.

What is Figma?

Figma is a free online design tool that allows users to create prototypes and edit and share them. It also offers a desktop app that integrates with other Adobe products like Photoshop, Illustrator, InDesign, and Acrobat.

According to Crunchbase, Figma, established in 2012, raised more than $332 million in investment and was valued at $10 billion in 2021. Thanks to Figma, multiple people can work together on design projects in the same files at once.

What Prompted Adobe to Buy Figma?

This acquisition could be seen as a response to recent announcements by rival companies like Sketch and Affinity Designer, which have launched their own collaborative editing tools recently.

Given the company’s recent push into design tools, Adobe’s plan to buy Figma is not surprising. This acquisition will allow Adobe to expand its creative suite, which includes Photoshop and Illustrator, with the addition of Figma’s collaboration tools.

Why Did Adobe Buy Figma?

According to Shantanu Narayen, chairman and CEO, Adobe,

“Together, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design, and inspire global communities of creators, designers, and developers. The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders, and the industry.”

Fear and Reactions from Figma Users

The announcement has disturbed artists and developers, who are worried about the arrangement. There are several complaints and requests to switch from Figma to other apps, including Sketch, on the FigmaDesign subreddit.

“Oh please no. If this is the great news that was being talked about yesterday on the zoom webinar, it’s not great. Nor good. Horrible. Adobe, please go away,” said Valkyra87.

“The product will get worse, but at least it’ll cost more,” added troubled-sleep.

Four-letter terms were frequently used by users to convey their emotions. Numerous threads have declared intentions to leave Figma or request suggestions for the top Windows drawing programs.

Why Many People Are Shocked By Adobe’s Move

Although a design industry leader, Adobe’s Creative Cloud products were more difficult to collaborate on. Adobe has a lousy reputation for maltreating clients concerning subscription cancellations. The cost of Creative Cloud kept going up. According to Barker, there was a joke that stated it would be less expensive to fly to the United States to buy the software, stay for a vacation, and then fly home if you lived in Australia.

This backdrop makes it understandable why the announcement set design Twitter on fire.

What’s Next for the Poor Masses

We’re not sure if Figma will no longer be free, although, Figma’s co-founder and CEO say it would be free. But you know how things can change at any given time?

According to Dylan Field, Figma continues to expand into new areas over time while simultaneously improving products like Figma Design, FigJam, and the Figma community platform. The Friends of Figma program will continue to grow into new communities. 

Adobe added; “The combination of Adobe’s and Figma’s communities will bring designers and developers closer together to unlock the future of collaborative design.’

There are currently no plans to change Figma’s pricing, and the platform will continue to be free for education.

Ever way, what I am sure of is that my good Indian/Russian brothers will help the global community with cracked versions haha.

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My name is Tomiwa and I'm very good at three things: WordPress, Marketing & Design.

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