No one can buy Canva now. Other start-ups beware
Summary
Adobe, its largest rival, inadvertently put paid to that with its attempt to acquire another design software firm, Figma, that collapsed this week. If its leaders Melanie Perkins and Cliff Obrecht had wanted to be bought by a Silicon Valley giant, that could have happened long ago, when it was not a direct competitor to so many. But the regulators’ opposition to the Figma purchase could scupper the dreams of the next generation of Australian entrepreneurs hoping to get rich selling their firms to Microsoft or Google. What’s driving it: Regulators have been leery for years about big technology companies entrenching their dominance by purchasing nascent start-ups. They point to examples like Facebook, which bought Instagram in 2012 and WhatsApp in 2014, eliminating two companies that could have become major competitors (or dethroned it as social media turned first toward photos and then messaging).
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