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I don't think this author did much research prior to writing this piece. > Who is David Wadhwani, the person Figma is going to report to? I have never heard of
by crakhamster01 4y ago
I don't think this author did much research prior to writing this piece.
> Who is David Wadhwani, the person Figma is going to report to? I have never heard of this name while working at Adobe. A little further research shows he joined Adobe in June 2021, just over a year ago.
A quick look at his LinkedIn profile shows that he worked at Adobe for nearly 14 years prior to coming back as an exec. A little more digging shows that he came to Adobe back in 2005 via acquisition of Macromedia.
> even with Adobe keeping Figma as independent as it can be, it will develop and grow at a much slower pace since there will be no venture capital funds pouring in
Figma was already profitable. From all the reports, it doesn't seem like they had any intention of raising another round to continue growth.
> With accelerated stock vesting triggered by the acquisition, a lot of Figma employees will jump ship to their next adventure.
There is no accelerated vesting.
It's fine to criticize this deal from a business strategy perspective, but don't make up details to hit the word count...
- crakhamster01 4y agoSome additional context around XD vs Figma: "After seven years of investment, Adobe XD was bringing in just $15 million in annual recurring revenue on a standalone basis — a minuscule fraction of Figma's $400 million annual recurring revenue. (That, in turn, is a minuscule fraction of Adobe's overall annual revenue of $17 billion.)"[0] [0] https://www.axios.com/2022/09/23/adobe-defends-figma-deal https://www.axios.com/2022/09/23/adobe-defends-figma-deal