effx Acquired by Figma.. Why?
effx Acquired by Figma.. Why?
"We really enjoyed trying to build something useful and impactful for you." To me this sounds like the startup failed and the team got acquire-hired to work on something new at Figma. With such a press release (blog post) both parties can claim success. I personally know three teams that went through such acquisitions. Bank account empty, acquirer assumes no risk, investors get nothing, product closed immediately.