The $1B Mistake That Helped Figma Build the Future
Back in my previous post, “Figma + Adobe or Figma vs Adobe?”, I explored what was really at stake: not just a corporate deal, but a cultural mismatch. Figma wasn’t just a better design tool. It was a better philosophy. Collaborative. Multiplayer. Transparent. While Adobe was hoping to absorb that energy, many feared it would smother it instead.
Turns out, we never got to find out.
As revealed in this recent Business Insider article, investors now believe the failed deal was a blessing. Why? Because it sparked a transformation.
“The people who remained in the boat really went to work,” one investor said. And it showed.
Freed from the uncertainty of the acquisition, Figma didn’t just recover — it moved forward with purpose. At its Config conference in May, the company launched four new products, doubling its catalog in one go.
It was a turning point, a fresh start. And just as AI began reshaping the entire industry, Figma seized the moment. With tools like Figma Make, which lets users build apps through simple conversation prompts, Figma showed it’s not just keeping up, it’s redefining what design software can be.
Adobe’s Expensive Miscalculation
Adobe underestimated the power of staying founder-led.It underestimated how fragile innovation is inside a giant. And most of all, it underestimated how fast a company like Figma can move when it’s free — and flush with a billion-dollar gift from its would-be acquirer.
Instead of acquiring the future, Adobe accidentally helped build it.
IPO, Not Acquisition
Figma filed to go public on July 1, 2025, and it’s one of the most anticipated IPOs in years. One investor put it simply:
“The exciting and desired outcome always was for it to be a public company.”
Adobe? It spent $1B to find that out.
The Real Lesson
This wasn’t just a failed deal. It was a signal. The next generation of companies doesn’t want to be bought, they want to build. And they don’t just want funding, they want freedom. Thanks for reading!