Figma Ditches Adobe, Files IPO, Picks a Fight Over Dev Mode

Figma is officially moving on. Fifteen months after announcing a $20 billion acquisition deal with Adobe, the design software company publicly confirmed that the two firms have called it off. In a statement, Figma co-founder and CEO Dylan Field said that despite “thousands of hours spent with regulators around the world,” both companies no longer saw a viable path to approval. The decision comes after intense antitrust scrutiny in both the EU and the UK, which brought the largest proposed acquisition of a design startup to a halt in December 2023. But if Adobe’s exit marked the end of one chapter, Figma wasted no time writing the next one. On Tuesday, the San Francisco-based company revealed it had confidentially filed for an IPO, signaling a return to independence and ambit