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0 0.000767253400836637 0.00179772512166836 0.00281699606292596 0.00211134694974769 -0.00212254772932207 0.00206654383145057 0.000610442486797035
Stock impact report

Adobe shares plunge on deal to acquire design platform Figma for $20 billion [MSNBC.com]

FactSet Research Systems Inc. (FDS) 
Last factset research systems inc. earnings: 3/26 07:01 am Check Earnings Report
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Company Research Source: MSNBC.com
AdobeannouncedFigma, 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 itslast funding roundFigma, 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 financialspreviously told CNBCThat 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 theBVP Nasdaq Emerging Cloud IndexRELATED:Microsoft employees love Figma, and it's testing the company's cozy relationship with Adobe (Aug. 25)Adobe said it will integrate some of the features from its other products, such as illustration, photography and video technology, into Figma's platform. A Show less Read more
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