Figma's successful IPO is seen as a significant event by Lina Khan, the former FTC chair. She linked the success to the importance of facilitating startup growth without acquisition by major companies, arguing that this enhances competition and value. Figma had previously faced a potential $20 billion acquisition by Adobe, which was scrapped amid regulatory concerns. Khan's approach during her tenure was to challenge the acquisition of startups by tech giants, advocating for a market with multiple suitors for founders. Her recent comments suggest the IPO as a validation of her strategy for innovation.
Khan 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 defended her approach by saying that only a tiny percentage of deals received "a second look" and arguing that founders would ultimately benefit from "a world in which you have six or seven or eight potential suitors" rather than "just one or two."
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