Figma and Adobe merger called off due to regulatory hiccups! Damn!
Figma and Adobe no longer see a path toward regulatory approval
https://www.figma.com/blog/figma-adobe-abandon-proposed-merger/
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Indian Startups on
by WittyFeed
Venture Capital
A great exit news after long!
This also marks the first-ever deal for Adobe in the generative AI and video-tooling space. It also makes Rephrase the first Indian startup ...
https://economictimes.indiatimes.com/tech/startups/ettech-exclusive-in-a-first-adobe-acquires-indian-generative-ai-startup-rephrase-ai/articleshow/105411574.cms
News Discussion on
by stonks_up
Groww
US sues Adobe for ‘deceiving’ subscriptions that are too hard to cancel
“Adobe trapped customers into year-long subscriptions through hidden early termination fees and numerous cancellation hurdles,” Samuel Levine, director of the FTC’s Bureau of Consumer Protection, said in a statement. “Americans are tired of companies hiding the ball during subscription signup and then putting up roadblocks when they try to cancel.” The federal government began looking into Adobe’s cancellation practices late last year. In 2012, Adobe went from selling its creative software for lifetime use to charging users for a monthly or yearly subscription to its suite of products, including Photoshop, Illustrator, InDesign, and others. The company’s subscription model has long frustrated creatives, who are often forced to stay subscribed to Adobe in order to keep doing their jobs. Earlier this month, Adobe’s new terms of service were met with backlash after some interpreted the move as an opportunity to train its AI on users’ art.
The DOJ accuses Adobe of trapping users in subscriptions.
https://www.theverge.com/2024/6/17/24180196/adobe-us-ftc-doj-sues-subscriptions-cancel