Lina Khan points to Figma IPO as vindication of M&A scrutiny
A surprising figure is celebrating Figma’s successful IPO: Lina Khan, former chair of the Federal Trade Commission. In a Friday afternoon post on X, Khan linked to an article about Figma’s impressive first day of trading and argued the IPO is “a great reminder that letting startups grow into independently successful businesses, rather than be bought up by existing giants, can generate enormous value.” Khan was alluding to a $20 billion deal for Adobe to acquire Figma that fell through back in 2023. While Adobe cited the lack of a “clear path” to approval from the European Commission and the U.K. Competition and Markets Authority, the acquisition also faced regulatory scrutiny in the United States over concerns that it could prevent Figma from being an “effective…
