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Published · transcript-backed

Lenny Rachitsky: evaluation

16 Oct 2025 Lenny's Podcast Figma’s CEO: Why AI makes design, craft, and quality the new moat for startups | Dylan Field

“My understanding is it fell through because the UK government regulatory boards just didn't want it to happen.”

— Lenny Rachitsky

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Speaker
Lenny Rachitsky
Attribution
Verified speaker
Claim type
evaluation
Recorded
16 Oct 2025
Publisher
Lenny's Podcast

Transcript context

…Hey, Lenny, thank you for having me back. It's great to see you. It's also great to see you too, Dylan. The last time we chatted, this was right after the Adobe deal didn't work out. Now, you're a public company, a public CO, congrats on that. Specifically, post-Adobe deal falling through, the journey you guys have taken, it was quite unusual. You almost sold the company to Adobe for a lot of money and then the deal fell through. My understanding is it fell through because the UK government regulatory boards just didn't want it to happen. Is that why it fell through? What's the story there, by the way? Yeah, various regulators did not like the deal and had arguments against it. No need to go into those and whatnot. But, yeah, it was a long process, 16 months. Adobe is an incredible company, a lot of respect for that team, and very interesting to, even in this constrained context where you can't plan out a road map or they can't give you instructions and stuff like that of, here's what you should do or not do. Just seeing them operate through the regulatory process even was fascinating. But yeah, it was intense and I'm really glad we kept our foot on the pedal, gas pedal, and just kept accelerating forward rather than grinding to a halt. Because we're able to exit this deal that didn't work out and go into launching Dev Mode and really pushing on how do we expand our platform in a big way. It's been I think just further acceleration of pace from there. I'm really proud of the team for how they handled that and also how they're in focus now, and it's a real honor to be on this team.…

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