Adobe – the inventor of Photoshop & Illustrator – has just bought their competitor for $20 billion
Figma is a web-based design tool which allows multiple designers to collaborate together. It doesn’t require anything to be downloaded, and is loved by many across the design industry — think of them as the Google Docs to Microsoft Word.
The trouble: these big companies often don’t have a good track record of integrating the products they buy, or continuing to invest in what makes them great. Adobe though is lagging in the web/app design space and this acquisition means they now don’t need to build it themselves.
Wall Street didn’t seem to love the deal, with Adobe shares dropping 17% almost instantly – their worst day since 2010.
It’s 23% down from the start of the week.