Adobe Acquires Figma for $20 B
Introduction
The .com boom led to a massive surge in the expansion of digitised and automated operations in all industries and organisations, which in turn beagle a wholesome transition to the digital age for all netizens, organisations and industries. All the big techs in today’s time were startups or not even in existence back when this boom began, but just in 3-4 decades, we see that a massive faction of the global population is dependent directly or indirectly on big techs for some or the other services. As the world of tech expands, so does the big tech, and hence, in the previous decades, we have seen some acquisitions by big tech companies. The biggest acquisition by tech was last seen in 2023 when the social media giant Facebook (Now META) acquired the famous messaging platform Whatsapp for $13 Billion, but now, almost after a decade, the world is ready to witness the biggest acquisition as Adobe confirms its plans to acquire Figma the leading web-first collaborative design platform.
Adobe - Figma Acquisition
The illustrator developer Adobe has been the pioneer in developing designing tools since 1982. The founder of the company made a switch from the paper company Xerox, and hence, the operations and products of the company have been oriented towards paper and design. But as the company is already a pioneer in developing designing and editing tools, the impact of AI cannot be underestimated. Hence, this acquisition comes at a critical juncture in impacting the AI-driven product market.
Adobe wants to use digital experiences to transform the world. Adobe provides the tools and platforms that power the digital economy today, and over the course of its existence, its innovations have positively impacted billions of people worldwide. Adobe continues to invent and modify categories, having revolutionised photography and creative expression with Photoshop, pioneered electronic documents with PDF, and created the digital marketing category with Adobe Experience Cloud.
The goals of Figma are to facilitate visual teamwork and provide accessibility to design for all. The company, which was founded in 2012 by Dylan Field and Evan Wallace, was a pioneer in online product design. Thanks to multi-player workflows, advanced design systems, and a large, expandable developer environment, it is now enabling collaboration for anybody designing interactive mobile and online applications. Millions of fresh designers and developers, as well as a devoted student base, have been drawn to Figma.
By working together, Adobe and Figma will transform how people create and work, spur innovation on the web, improve product design, and uplift communities of creators, designers, and developers throughout the world. The combined business will have the capacity to create major value for clients, investors, and the industry, in addition to a sizable and rapidly expanding market potential.
Key Features of Acquisition
The most expensive acquisition this century has caught the attention of a lot of companies and regulatory authorities across the world. The key features of the deal are as follows:
- Reimagining the Future of Creativity and Productivity: The designing giant Adobe and Figma coming together will unlock new potential for creativity and productivity as both of the companies create tools which are widely used; hence, they understand the customer’s requirements and expectations, thus making a path for creativity and productivity in term of new services and applications.
- Accelerating Creativity on the Web: Adobe's Creative Cloud technologies will be delivered online more quickly thanks to Figma's web-based, multi-player features, which will increase productivity and accessibility to the creative process for more people. The current difficulty facing creators is producing an ever-increasing amount of material while working closely with an ever-increasing number of stakeholders. With its widespread use, the web is now a tool that facilitates collaborative creation in teams.
- Advancing Product Design: All parties involved in the product design process, including designers, product managers, and developers, will gain from the integration of Adobe's robust imaging, photography, illustration, video, 3D, and font technologies into the Figma platform. Because digital applications are integral to both our personal and professional lives, the product design sector is experiencing rapid expansion.
- Inspiring and empowering the designer and developer community: The company's ongoing innovation has been fueled by the dynamic creative community at Adobe. With its vast and expanding ecosystem, Figma boasts a fervent community that creates and shares everything from templates to plug-ins to lessons. By uniting the communities of Figma and Adobe, designers and developers will be able to harness the potential of collaborative design in the future. By 2025, Figma's addressable market will reach a total of $16.5 billion. With best-in-class net dollar retention of more than 150 percent, the company is predicted to add around $200 million in net new ARR this year, topping $400 million in total ARR by the end of 2022. Figma has established a productive, rapidly expanding company with operating cash flows that are positive and gross margins of over 90%.
Conclusion
The acquisition of the decade is going to be under heavy scrutiny and checks under various laws in different countries and is expected to be given the green light soon, this merger and acquisition case study will act as a precedent for such high-value acquisitions. Nearly 10 years ago, we saw the last biggest acquisition, where Meta acquired WhatsApp for $13 Bn. As the world of tech moves forward, we will be witnessing more of such M&As in the future, but in such moments, we should be cautious about how our data is handled and transferred by the other company, always make sure you keep a check on your digital rights and responsibilities, because ultimately we are the consumers of the cyberspace.
References
- https://news.adobe.com/news/news-details/2022/Adobe-to-Acquire-Figma/default.aspx
- https://www.theregister.com/2023/10/26/regulator_delays_adobes_20bn_buy/
- https://www.reuters.com/markets/deals/adobes-deal-acquire-figma-under-threat-eu-regulators-ft-2023-06-20/'
Related Blogs
Introduction
The United Nations (UN) has unveiled a set of principles, known as the 'Global Principles for Information Integrity', to combat the spread of online misinformation, disinformation, and hate speech. These guidelines aim to address the widespread harm caused by false information on digital platforms. The UN's Global Principles are based on five core principles: social trust and resilience, independent, free, and pluralistic media, healthy incentives, transparency and research, and public empowerment. The UN chief emphasized that the threats to information integrity are not new but are now spreading at unprecedented speeds due to digital platforms and artificial intelligence technologies.
These principles aim to enhance global cooperation in order to create a safer online environment. It was further highlighted that the spread of misinformation, disinformation, hate speech, and other risks in the information environment poses threats to democracy, human rights, climate action, and public health. This impact is intensified by the emergence of rapidly advancing Artificial Intelligence Technology (AI tech) that poses a growing threat to vulnerable groups in information environments.
The Highlights of Key Principles
- Societal Trust and Resilience: Trust in information sources and the ability and resilience to handle disruptions are critical for maintaining information integrity. Both are at risk from state and non-state actors exploiting the information ecosystem.
- Healthy Incentives: Current business models reliant on targeted advertising threaten information integrity. The complex, opaque nature of digital advertising benefits large tech companies and it requires reforms to ensure transparency and accountability.
- Public Empowerment: People require the capability to manage their online interactions, the availability of varied and trustworthy information, and the capacity to make informed decisions. Media and digital literacy are crucial, particularly for marginalized populations.
- Independent, Free, and Pluralistic Media: A free press supports democracy by fostering informed discourse, holding power accountable, and safeguarding human rights. Journalists must operate safely and freely, with access to diverse news sources.
- Transparency and research: Technology companies must be transparent about how information is propagated and how personal data is used. Research and privacy-preserving data access should be encouraged to address information integrity gaps while protecting those investigating and reporting on these issues.
Stakeholders Called for Action
Stakeholders, including technology companies, AI actors, advertisers, media, researchers, civil society organizations, state and political actors, and the UN, have been called to take action under the UN Global Principles for Information Integrity. These principles should be used to build and participate in broad cross-sector coalitions that bring together diverse expertise from civil society, academia, media, government, and the international private sector, focussing on capacity-building and meaningful youth engagement through dedicated advisory groups. Additionally, collaboration is required to develop multi-stakeholder action plans at regional, national, and local levels, engaging communities in grassroots initiatives and ensuring that youth are fully and meaningfully involved in the process.
Implementation and Monitoring
To effectively implement the UN Global Principles at large requires developing a multi-stakeholder action plan at various levels such as at the regional, national, and local levels. These plans should be informed and created by advice and counsel from an extensive range of communities including any of the grassroots initiatives having a deep understanding of regional challenges and their specific needs. Monitoring and evaluation are also regarded as essential components of the implementation process. Regular assessments of the progress, combined with the flexibility to adapt strategies as needed, will help ensure that the principles are effectively translated into practice.
Challenges and Considerations
Implementing these Global Principles of the UN will have certain challenges. The complexities that the digital landscape faces with the rapid pace of technological revamp, and alterations in the diversity of cultural and political contexts all present significant hurdles. Furthermore, the efforts to combat misinformation must be balanced with protecting fundamental rights, including the right to freedom of expression and privacy. Addressing these challenges to counter informational integrity will require continuous and ongoing collaboration with constant dialogue among stakeholders towards a commitment to innovation and continuous learning. It is also important to recognise and address the power imbalance within the information ecosystem, ensuring that all voices are heard and that any person, specifically, the marginalised communities is not cast aside.
Conclusion
The UN Global Principles for Online Misinformation and Information Integrity provide a comprehensive framework for addressing the critical challenges that are present while facing information integrity today. Advocating and promoting societal trust, healthy incentives, public empowerment, independent media, and transparency, these principles offer a passage towards a more resilient and trustworthy digital environment. The future success of these principles depends upon the collaborative efforts of all stakeholders, working together to safeguard the integrity of information for everyone.
References
- https://www.business-standard.com/world-news/un-unveils-global-principles-to-combat-online-misinformation-hate-speech-124062500317_1.html
- https://www.un.org/sustainabledevelopment/blog/2024/06/global-principles-information-integrity-launch/
- https://www.un.org/sites/un2.un.org/files/un-global-principles-for-information-integrity-en.pdf
- https://www.un.org/en/content/common-agenda-report/assets/pdf/Common_Agenda_Report_English.pdf
Executive Summary:
The internet is a nest of scams and there's much need to be careful with predatory ideas that prey on the naïve people. Within the recent days, a malicious campaign has emerged falsely alleging 28 day free recharge by courtesy of the Prime Minister Narendra Modi. This blog seeks to analyze the tactics used by this scam in luring the victims and give an overview on how one can identify and keep away from such fraudulent activities.
Claim:
In view of the increasing support for the BJP 2024 election, a rumor has allegedly claimed that the Prime Minister Narendra Modi offering a free recharge with a validity period of up-to twenty eight days at cost of ₹239 to all Indian users. The message encourages the users to click on a given link in order to redeem the free recharge, pointing out that this offer is valid until January 26th of 2024.
The Deceptive Journey:
- Insecure Links:The research begins with a suspicious link (http://offerintro[.]com/BJP2024), without any credibility that honest sites use to protect the user information. We should keep in mind that the links which aren’t secure may easily lead to phishing and other cyber threats.
- Multiple Redirects:When users click the link, they are immediately directed through a series of links. This common tactic used by scammers is designed to hide the true origin of their fraudulent scheme, making it difficult for users' efforts to identify the malicious activity.
- False Promises and Fake Comments:The landing page has a banner of the Prime Minister Narendra Modi that makes it look like this is an official channel and hence authentic. Further, false comments can be also included to compliment the alleged initiative. But remember that genuine government announcements are made through legal channels, not by the shady websites.
- Mobile Number Request:As the next step, the users enter their mobile numbers in the specified field. True initiatives never really need the personal information to pass through unofficial lines. This is actually a trick that scammers use to acquire the important information.
- Share to Activate:Once a user has entered the mobile number, he/she is prompted to share the link with others in order to “activate” promised free recharge. This method is most often used by scammers for spreading their fraudulent message beyond the targeted victim.
- Fake Progress Display:When the users have done their part by sharing the link, a false recharge in progress bar is shown to make them believe that it has started. But the consumers are unwittingly playing a part in the fraud.
- Recharge Completion Pop-up:The last stage of fraud includes a pop-up saying that the recharge is done; leaving users with the false belief that they have benefited from a legitimate government initiative.
What we Analyze :
- It is important to note that at this particular point, there has not been any official declaration or a proper confirmation of an offer made by the Prime Minister or from their government. So, people must be very careful when encountering such messages because they are often employed as lures in phishing attacks or misinformation campaigns. Before engaging or transmitting such claims, it is always advisable to authenticate the information from trustworthy sources in order to protect oneself online and prevent the spread of wrongful information.
- The campaign is hosted on a third party domain instead of any official Government Website, this raised suspicion. Also the domain has been registered in very recent times.
- Domain Name: offerintro[.]com
- Registry Domain ID: 2791466714_DOMAIN_COM-VRSN
- Registrar WHOIS Server: whois.godaddy[.]com
- Registrar URL: https://www.godaddy[.]com
- Registrar: GoDaddy[.]com, LLC
- Registrar IANA ID: 146
- Updated Date: 2023-06-18T20:37:20Z
- Creation Date: 2023-06-18T20:37:20Z
- Registrar Registration Expiration Date: 2024-06-18T20:37:20Z
- Name Server: ANAHI.NS.CLOUDFLARE.COM
- Name Server: GARRETT.NS.CLOUDFLARE.COM
CyberPeace Advisory:
- Stay Informed: Beware of the scams and keep yourself updated through authentic government platforms.
- Verify Website Security: Do not get engaged with any insecure HTTP links but focus on URLs that have secure encryption (HTTPS).
- Protect Personal Information: However, be cautious when sharing personal information – especially in a non-official channel.
- Report Suspicious Activity: If you discover any scams or fraudulent activities, report it and the relevant sites to help avoid others from being defrauded of their hard earned money.
Conclusion:
Summing up, Prime Minister Narendra Modi Free Recharge fraud is an excellent illustration that there is always some danger within cyberspace. The way of the method, from insecure links and also multiple redirects to false promises and really data collection make it clear that internet users should be more careful. The importance of staying up-to-date with what is happening in this new digital world, verifying credibility and also privacy are paramount. By being cautiously aware, the people can keep themselves safe from such fraudulent acts and also play a role in ensuring security even for an online world. Remember that an offer which is in a perfect world should be illegal. Therefore, after doing a thorough research we found this campaign to be fake.
Executive Summary:
A photo claiming that Mr. Rowan Atkinson, the famous actor who played the role of Mr. Bean, lying sick on bed is circulating on social media. However, this claim is false. The image is a digitally altered picture of Mr.Barry Balderstone from Bollington, England, who died in October 2019 from advanced Parkinson’s disease. Reverse image searches and media news reports confirm that the original photo is of Barry, not Rowan Atkinson. Furthermore, there are no reports of Atkinson being ill; he was recently seen attending the 2024 British Grand Prix. Thus, the viral claim is baseless and misleading.
Claims:
A viral photo of Rowan Atkinson aka Mr. Bean, lying on a bed in sick condition.
Fact Check:
When we received the posts, we first did some keyword search based on the claim made, but no such posts were found to support the claim made.Though, we found an interview video where it was seen Mr. Bean attending F1 Race on July 7, 2024.
Then we reverse searched the viral image and found a news report that looked similar to the viral photo of Mr. Bean, the T-Shirt seems to be similar in both the images.
The man in this photo is Barry Balderstone who was a civil engineer from Bollington, England, died in October 2019 due to advanced Parkinson’s disease. Barry received many illnesses according to the news report and his application for extensive healthcare reimbursement was rejected by the East Cheshire Clinical Commissioning Group.
Taking a cue from this, we then analyzed the image in an AI Image detection tool named, TrueMedia. The detection tool found the image to be AI manipulated. The original image is manipulated by replacing the face with Rowan Atkinson aka Mr. Bean.
Hence, it is clear that the viral claimed image of Rowan Atkinson bedridden is fake and misleading. Netizens should verify before sharing anything on the internet.
Conclusion:
Therefore, it can be summarized that the photo claiming Rowan Atkinson in a sick state is fake and has been manipulated with another man’s image. The original photo features Barry Balderstone, the man who was diagnosed with stage 4 Parkinson’s disease and subsequently died in 2019. In fact, Rowan Atkinson seemed perfectly healthy recently at the 2024 British Grand Prix. It is important for people to check on the authenticity before sharing so as to avoid the spreading of misinformation.
- Claim: A Viral photo of Rowan Atkinson aka Mr. Bean, lying on a bed in a sick condition.
- Claimed on: X, Facebook
- Fact Check: Fake & Misleading
