MSFT acquisition instead..?
Figma and Adobe abandon proposed merger
691–700 of 1001 posts
Re: Figma and Adobe abandon proposed merger
#692Why did Figma want to sell itself to Adobe in the first place? Even though their revenue is only about $400MM, As far as I know, they make a very healthy profit (operating margin of ~90%), and they’ve also been expanding through organic and acquisition means (e.g. they bought Diagram). Is it because they see the ability to grow the company’s products even more given the Adobe footprint?
What makes you think they have an operating margin of 90%? The blog post says in the last 15 months alone they've hired 500 additional employees ("figmates"), there's no way their margin is anywhere close to what you cite.
"Figmates" has a dotcom air to it.
Re: Figma and Adobe abandon proposed merger
#693Earlier quoted context omitted.
> Broadcom & VMware merger took similarly long and was approved. The duration is completely unacceptable and poison to business The number of such mergers, globally every year, is countable on two hands. They involve the wealth of nations (this one’s similar to Malta’s GDP [1][2]). It would be unreasonable to permanently staff the regulatory force that would be required to quickly review such deals in any industry. […
>They involve the wealth of nations Do they though? People often compare rich people or companies to a country GDP's, but GDP is based on a single year. The size of a company's bank account is not. A year is pretty arbitrary. In some sense it's like saying the distance between New York and Washington is 200 miles which is not that long, because a Ferrari's top speed is 200 mph.
> it's like saying the distance between New York and Washington is 200 miles which is not that long, because a Ferrari's top speed is 200 mph
It’s saying the distance is within a class negotiable by a Ferrari.
In the GDP to value case, we’re saying that the consideration at hand is comparable to all of the work of a small country for a year. So the care the latter gets is in the same class as the care the former should receive.
Re: Figma and Adobe abandon proposed merger
#694Earlier quoted context omitted.
[flagged]
You're getting downvotes, but IMO it's because people don't realize how far outside the norm Lina Khan's stances and approach has been.
Your completely correct if you mean the norm since the 80's when antitrust enforcement was abandoned. Her stances completely align with the standing anti-laws and regulations that have existed for over 80 years. The anti-trust bar and big business have been trying to redefine what anti-trust is for the past 30-40 years which is what got us into this mess of giant firms and too big to fail economics.
The perspective that bringing back regulatory action is outside the norm shows just how skewed economic thinking has been in the US.
Re: Figma and Adobe abandon proposed merger
#695Earlier quoted context omitted.
You can run many of the models directly through CivitAI. You get lower quality images, but you can upscale them through an upscaler. Just go to any model and click "Create". You can even use examples from the model to prefill the prompt. For example, you can scroll down and click "Start Creating" on this page: https://civitai.com/images/3908138
CivitAI’s web tools are great for someone getting their feet wet but it presents an extremely stripped down options UI relative what’s available in Draw Things on iOS/macOS or SHARK on Windows.
True, but that's precisely my point: even with this stripped down version, I was able to hack together exactly what I wanted for an upcoming project in far less time. I got a model in the exact hairstyle, pose, and costume I wanted. The upscaler did a pretty good job of making it production ready.
This stuff is wildly productive for noobs who just want to get stuff out. Maybe its not something you'd see in an Apple ad, but its definitely something you'll see in a small business ad.
Re: Figma and Adobe abandon proposed merger
#696Earlier quoted context omitted.
They just got a billion dollars as a breakup fee. A billion dollars could be: $500M to early investors, $250M to the people that built the company, $400k each for anyone employed before the merger announcement, $100k each for anyone hired since, $50M under a pillow for safekeeping. And that's without needing to give up ownership. Is that not a good 'exit'?
All of their rounds have added up to $333M; most of that is in the past 3-5 years; the early investment rounds were very tiny. $500M on $333M isn't the home run that the investors were looking for, but maybe in today's environment may be the best they can hope for. That said, they may not want to set that precedent.
They wouldn't necessarily have to give up any ownership, so they could keep hoping for a home run to occur later. I feel like that's a pretty good deal.
Re: Figma and Adobe abandon proposed merger
#697Earlier quoted context omitted.
It's amazing though. The performance of Figma is better than all native vector apps out there.
Has performance in Sketch fallen in recent years? I know it's not as popular any more, but years ago when I used Sketch the performance was always top notch.
I used sketch around 2017-2018 and the performance was really bad. Much worse than Illustrator. At the time I was on a top of the line 5K iMac.
Currently on an M2 Pro MBP and Figma is more responsive than Affinity Design. The latest versions of Illustrator have had a bunch of GPU rendering issues that affect performance. In fact these issues were the reason I started using Figma.
Re: Figma and Adobe abandon proposed merger
#698I have no idea why so many people are asserting that the FTC has been sitting on this for 15 months.
The first paragraph of the article, FROM FIGMA, says:
"Figma and Adobe have reached a joint decision to end our pending acquisition. It’s not the outcome we had hoped for, but despite thousands of hours spent with regulators around the world detailing differences between our businesses, our products, and the markets we serve, we no longer see a path toward regulatory approval of the deal."
The FTC has not been slow rolling this, they have been in discussions. No one wants the FTC to sue unless they have too, especially Figma/Adobe ... it sounds like Figma and Adobe have finally admitted that they were not going to win this one.
Re: Figma and Adobe abandon proposed merger
#699Earlier quoted context omitted.
Nothing that is public that I've seen says this is true. You can get a bridge loan for $1b backed by whatever iliquid assets you have from any major bank, and then it's up to you how quickly you want to unwind other things. The loan might even be interest free if the bank wants to keep Adobe's business for other M&A activities.
Bridge loan with $1b liquidity in 4 days? Or are bridge loans essentially open lines of credit?
I used the term bridge loan as a sort of umbrella term that might be technically not the best as my training isn't in finance and I know some of this stuff from exposure by proximity. What I'm referring to sometimes is also called a revolving line of credit, the most famous case was Enron's revolvers for example. The point is big banks will normally allow companies to take out large short term loans for this type of thing, usually having large amounts pre-approved.
Re: Figma and Adobe abandon proposed merger
#700Earlier quoted context omitted.
I couldn't care less about AI in Photoshop but I'd love AI in Illustrator to generate vector stuff.
AI sucks pretty hard at generating Vectors. The only option for now is to generate something in an illustration style and have it vectorized.
There are a couple of AI vectors services out there but the pricing is just silly.