Figma's Acquisition Is A Historic Coup For Startup Investors.

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A little more than a year after raising $10 billion in funding.

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Adobe is paying double the that amount to acquire Figma.

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The deal, which valued Figma at about 50 times annualised recurring revenue, caused shares of Adobe to crash.

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The top venture capital firms in Figma expect to each earn over $1 billion.

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The acquisition of Figma on Thursday stands out between this year's tech IPOs, because there have been more layoffs than IPOs.

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There was no other bidder willing to pay more for the company, according to a person familiar with the matter.

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Adobe has been having trouble with the design software that is provided by Figma.

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This tool has a free option, is simple to use, and is used by designers at businesses of all sizes.

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Annual recurring revenue is projected to more than double within the next two years, reaching $400 million by 2022.

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Adobe is paying out roughly 50 instances of its yearly income in the 12 months.

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