Adobe announced today that it would pay $20 billion in cash and stock to acquire Figma, a web-based collaborative design platform. Figma will be folded into the larger Adobe family of products, and will continue to operate independently until the deal closes.
The $20 billion figure is a substantial step up in valuation for Figma, which was valued at $10 billion in its last funding round in 2021. The company was founded in 2012, and Adobe said that it has since developed a dedicated following among developers. Figma offers a rich range of collaboration options for joint software development, as well as the popular FigJam collaborative whiteboarding environment.