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Adobe bought the Figma design platform for how many billion?
$20 billion
$30 billion
$40 billion
$40 billion

Correct Answer : Option (A) - $20 billion

Adobe announced Thursday(15th Sep 2022) that it will acquire design software firm Figma in a deal worth about $20 billion in cash and stock. Shares of Adobe sank 17%, their biggest plunge since 2010.
Figma, founded in 2012, creates cloud-based design software that allows teams to collaborate in real time. It competes head-to-head with Adobe’s XD program.
The company was valued at $10 billion in its last funding round in 2021.
Figma, whose backers include the likes of Index Ventures, Greylock Partners and Kleiner Perkins, is expected to generate more than $400 million in annual recurring revenue this year, sources familiar with the company’s financials previously told CNBC. Adobe confirmed Figma’s ARR will surpass $400 million exiting 2022.
That means Adobe is paying in the neighborhood of 50 times revenue at a time when sales multiples for cloud software are contracting dramatically from their record highs reached last year. For the top cloud companies in the BVP Nasdaq Emerging Cloud Index, forward multiples have fallen to just over 9 times revenue from about 25 in February 2021..

Source : CNBC

Published On : September 19, 2022
Category : Business and Economics