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Adobe has acquired its fierce rival Figma for $20 billion


Adobe Inc , the American software company responsible for some of the world’s most popular design software tools has purchased rival startup, Figma, for a reported $20 billion. With this buyout, Adobe eliminates one of its fast-rising rivals, in a move that is widely seen as an attempt to remain relevant.

Figma was launched in 2016 and quickly gained popularity among the designer community for its easy onboarding process and pocket-friendly pricing. It’s considered more customer-centric. Figma currently has a free starter plan and a professional plan that starts at $12 per month per editor.

Although Figma says there are currently no plans to change the pricing, creatives are sceptical, given Adobe’s appetite for high subscription rates.

Figma CEO, Dylan Field said, “Recognising that we are in an unpredictable, inflationary environment, we currently have no plan to change Figma’s pricing. All of Figma will continue to be free for education.”

The company founded by Dylan Field and Evan Wallace was built with a mission to “anyone [to] be creative by creating free, simple, creative tools in a browser.”

Figma has been democratizing and liberating the creative space with its tools, making incredible progress beyond what Adobe anticipated.

“With Adobe’s amazing innovation and expertise, especially in 3D, video, vector, imaging and fonts, we can further reimagine end-to-end product design in the browser while building new tools and spaces to empower customers to design products faster and more easily.”

With Figma off the market, the list of companies capable of challenging Adobe’s empire has been strategically reduced.

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Simon W Nderitu

Simon is a tech enthusiast who keeps a close eye on emerging technologies, startups and the general business environment. You will often catch him totally immersed and drooling over Artificial Intelligence, Machine Learning, Virtual Reality, Augmented Reality, IoT and just about any other tech that promises to revolutionize the way we live. Send tips to snderitu@techtrendske.co.ke

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