Creative design software company Adobe has announced that it will acquire web design application Figma for $20 billion to take on its biggest rival.
Adobe schedule Integrate some of your existing capabilities, such as photography, illustration, and video technology, with Figma’s products. Adobe offers paid features such as Illustrator, Photoshop, Behance, and Premiere Pro.
Shantanu Narayan, CEO of Adobe, said:
Founded in 2012, Figma is expected to generate more than $400 million this year, according to CNBC sources. Previous investors in the web design platform include Index Ventures, Kleiner Perkins and Greylock Partners.
Figma CEO Dylan Field seems excited about the partnership, explaining in an interview that the two companies have “huge potential” and features that designers can benefit from this collaboration. . bloomberg.
David Wadhwami, president of Adobe’s Digital Media Business, is not surprised by the fact that the deal came during a period of global market downturn. He thinks he’s one of the best companies to buy at the moment because Figma rates him as cash flow positive with a net dollar retention rate of over 150%. .
More Crypto and NFT Initiatives Coming?
A merger of the two companies could mean more NFT initiatives.
Adobe already irreplaceable (NFTs) game. In October 2021, the company will announced Integrating the “Prepare as NFT” option into Photoshop. This option allows, among other features, to prove ownership of the NFT and is called. Content credentialsWhat Digital Collectibles Sellers Can Do Link their crypto wallet To an Adobe ID that proves the authenticity of the NFT if checked by the NFT Marketplace.
Behance, a social media platform for visual artists and designers, also received a cryptocurrency update. Users will be able to add cryptocurrency wallets to their portfolio. The software platform is Polygon (matic), Solana (Sol), Tezos (XTZ), and flow (FLOW). This year, Behance Added Polygon blockchain support facilitates the introduction of Polygon_based NFTs.The social media platform said they chose matic For digital collectibles in “The Green Way for Artists to Create.”
Forbee[In]The latest in crypto Bitcoin (BTC) Analysis, click here.
Disclaimer
All information contained on our website is published in good faith and is for general information purposes only. Readers are strictly at their own risk for any actions they take with respect to information they find on our website.
