Yep. Everybody has a price.
It's not that Figma was worth $20 billion.
It's that Adobe was likely seeing subscription revenue take hit from customers that realized there's no need for creative cloud subscription.
It's not that Figma was worth $20 billion.
It's that Adobe was likely seeing subscription revenue take hit from customers that realized there's no need for creative cloud subscription.
While being pummeled by public markets, and being forced to make a move that might keep shareholders from calling for blood.
This is certainly not the first time that Adobe has presented a number to Figma's board — but it has to be the biggest number yet, by far.
From Figma's position: take your chances on an IPO while the Fed is cracking skulls around inflation — or flip the bit on that liability, and cash out to a desperate Adobe?
More theatrical than academic — if both options have a risky short-term outlook, optimize for the story.
Sold for $20B? Or lackluster IPO? As GP of a VC fund, which story is going to better-enable you to raise your next several funds?
Vesting periods are quite common in employee incentives but not at all common in mergers and acquisitions.