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 (Hunter Walk)

Bloomberg:
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  —  Adobe Inc. is nearing a deal to acquire Figma, a startup that makes online design collaboration tools, people with knowledge of the matter said.

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 …

Bryce Elder / Financial Times:
Adobe’s Figma deal raises big questions about its M&A whack-a-mole strategy in response to free alternatives; the deal is 50x Figma’s reported 2022 ARR of $400M  —  The defining technology merger of 1998 was Microsoft’s purchase of Compu-Global-Hyper-Mega-Net, Homer Simpson’s internet start-up, for an undisclosed price.

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.

Bloomberg:
A profile of Figma founder Dylan Field, who will become the wealthiest person from the Thiel Fellowship by far, as PitchBook estimates his stake is worth $2B+  —  Dylan Field dropped out of an Ivy League school in 2012 to take a grant from the billionaire Peter Thiel and start a software company called Figma.