Adobe reported its third-quarter financial results on September 15th, achieving a record sales of $4.43 billion, representing a 13% year-on-year growth. Though it is Adobe’s third consecutive quarter of less than 15% growth, this was not the most shocking news. Rather, it was the announcement of the acquisition of Figma that surprised many. The announced merger would be Adobe’s largest acquisition and probably the riskiest in the eyes of investors, leading to the steepest single-day decline of Adobe’s share price in years. In this post, we’ll look at the acquisition and why it was so resented. What does Figma do? Adobe is spending $20 billion to acquire Figma, a leading web-first collaborative design tool. Figma, which was launched in 2012, was the pioneer of web-based product design. Through multi-player workflows, smart design systems, and a robust, extendable developer ecosystem, it enables anyone who builds interactive mobile and online applications to collaborate. Figma has garnered...