(Wallace left the company in 2021).Īdobe’s stock is down more than 20% since the announcement, evaporating $29 billion in market capitalization and helping cause several prominent analysts to cut their ratings.Īdobe’s reasons for doing the deal, even at such a rich price, are simple, analysts say: The move pulls Adobe into the cloud, an area where it’s historically struggled to gain traction, while reaching a new cohort of design software customers. The proposed acquisition, which the companies said they expected to close in 2023, has provoked backlash among some Adobe investors concerned about its cost - 50 times Figma’s expected revenue for the year - and among some Figma fans in the design community, who turned to memes and reshared a Field tweet from 2021 that “our goal is to be Figma and not Adobe.“ The deal will make Field and cofounder Evan Wallace billionaires.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |