Adobe has agreed to buy design startup Figma for $20 billion. This would be the largest acquisition ever of a privately held software company.
Adobe agreed to buy Figma, a Palo Alto, California-based maker of an in-browser interface design platform, for around $20 billion.The deal is structured via an even split of cash and stock.Figma raised around $330 million in VC funding, most recently via a Series E round in 2021 led by Durable Capital Partners at a $10 billion valuation.
Other backers include Index Ventures, Greylock, Kleiner Perkins, OATV, Andreessen Horowitz, Founders Fund, Fuel Capital, Counterpoint Global, Geodesic Capital, Base10 Partners, WndrCo, IVP and TeleSoft Partners.Adobe first approached Figma several months ago, per a source familiar with the process. Figma didn't run a formal auction process, nor was it seeking to raise new private funding.
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