Adobe plans to acquire UI design and prototyping tool Figma for around $20B in cash and stock; Figma CEO Dylan Field will continue in the role (Bloomberg)

Hunter Walk:
Adobe’s $20B Figma deal is worth it because Figma’s $400M ARR, independent of margin, was continuing to double and creating pricing pressure on Adobe  —  Hint: The Answer Doesn’t Involve a Spreadsheet  —  I’m not an investor in Figma.  I don’t know Figma CEO Dylan Field.  And I’m not a designer.

Nilay Patel / The Verge:
An interview with CEO Dylan Field on scaling Figma, selling the company to Adobe, retaining autonomy, WebGL, making VR Figma for the metaverse, AGI, and more  —  We also talk about AI and VR — but we know why you’re here. … Dylan Field is the co-founder and CEO of Figma …

Josh Sisco / Politico:
Sources: the US DOJ is preparing to open an in-depth probe into Adobe’s $20B takeover of Figma and has been contacting customers, competitors, and investors  —  The Justice Department is preparing to open an in-depth investigation of Adobe’s $20 billion takeover of design collaboration company Figma …

Brody Ford / Bloomberg:
Adobe’s Scott Belsky says the company plans to integrate Figma without changing its pricing or UI, add support for other Adobe tools, and more  —  Adobe Inc. plans to add technology from its creative software portfolio to Figma without tweaking pricing or simplicity after its acquisition …

Biz Carson / Protocol:
A look at antitrust concerns for Adobe’s $20B Figma acquisition, including whether the deal could eliminate competition and harm consumers by reducing choices  —  Hello, and welcome to Pipeline.  I’m Biz Carson, and I’m devastated after I lost my 149-day Wordle streak to “parer” yesterday.

Ina Fried / Axios:
Adobe argues Figma will help it rethink design tools for the cloud era; Adobe’s competing product, XD, generated just $15M in annual revenue after seven years  —  Adobe executives think there’s a lot that critics of its $20 billion purchase of Figma are missing.