Because a 50 P/S ratio would be unusually high (I'm of course trying to say that IMHO Adobe is significantly overpaying) Figma is a private company, of course

Because a 50 P/S ratio would be unusually high (I'm of course trying to say that IMHO Adobe is significantly overpaying) Figma is a private company, of course it depends on figures as well which are not publicly available but no comparable public companies are valued that high after the 2021 peak. However unlike most comparable tech companies it is supposedly profitable (not clear if GAAP, though) which would increase it's valuation.