Valuations are also about the future based on current adoption trends. It's like asking why did facebook pay so much for whatsapp, it's because it was very clo

Valuations are also about the future based on current adoption trends. It's like asking why did facebook pay so much for whatsapp, it's because it was very close to pulling a tiktok on FB themselves. They had half a billion people and was the defacto network effect locked in messenger for most of the smartphone world outside of China and the USA & Canada, on top of being extremely more staff efficient. If they bothered to add social networking, it would've been the beginning of the end for FB in those markets, and I wouldn't be surprised if it was a WIP in WhatsApp when acquisition talks were happening. Figma was pretty much acting like the whatsapp to core parts of adobe business based on adoption. If they let it go on further, a similar thing would've happened.