Adobe's Failed $20 Billion Acquisition of Figma: What Went Wrong?

Figma's decision to end its $20 billion merger with Adobe has not hindered its rapid growth, with the design software firm expected to finish the year with over $600 million in annual recurring revenue, a 40% increase from the previous year. Figma's strong financial position, including a billion-dollar breakup fee from Adobe, positions it well for a potential initial public offering in 2025 or later, making it one of the best-performing late-stage private tech companies.