If every startup uses something today, it often means that it's just starting to be noticed by large enterprises, and in five years will have spread there too.

If every startup uses something today, it often means that it's just starting to be noticed by large enterprises, and in five years will have spread there too. There's probably a big untapped market for Figma in boring enterprise software and internal design needs for marketing, etc. I'd bet that Microsoft was bidding for Figma too. In that light, Adobe's $20B price is a sign of strength because they were able to afford to outbid Microsoft for an extremely strategic acquisition. Adobe isn't taking enormous amounts of expensive new debt to fund this. The stock market's opinion of the deal doesn't affect Adobe's finances directly.