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No one can buy Canva now. Other start-ups beware

Any start-up boss hoping to get rich selling their company to a tech giant should learn from Adobe’s $US20 billion attempt to buy design software maker Figma, which collapsed this week.

Nick Bonyhady
Nick BonyhadyTechnology writer

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No one can buy Canva now. Adobe, its largest rival, inadvertently put paid to that with its attempt to acquire another design software firm, Figma, that collapsed this week. The $US20 billion ($29.5 billion) deal, struck 15 months ago, crumpled after regulators in three markets said or signalled they would block it. If they were that worried about an Adobe-Figma tie-up, they would be aghast at the prospect of a software giant buying Canva. So that’s a non-starter.

Canva, founded by Cliff Obrecht and Melanie Perkins, could have been bought long ago if it had really wanted to sell. David Rowe

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Nick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com

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    Original URL: https://www.afr.com/technology/no-one-can-buy-canva-now-other-start-ups-beware-20231220-p5esr8