Figma Acquires Israeli Startup Weavy, to Establish Development Center in Tel Aviv
Acquisition Overview
Figma, a leading design giant valued at $25 billion and publicly traded on Wall Street, has announced the acquisition of Israeli startup Weavy. While the financial details of the deal remain undisclosed, Weavy, which was established just a year ago in November 2024, has managed to raise $4 million and consists of a team of 20 employees.
Branding and Future Integration
Following the acquisition, the Weavy brand will be restructured and will operate under the new name “Figma Weave.” Although it will maintain its status as a separate product for the time being, future integration into Figma’s platform is anticipated.
Market Reactions
In other market-related news, demands for corporate bonds have reached unprecedented levels, highlighting a significant growth in the cloud revenue of Amazon, which has seen its highest expansion since 2022. Additionally, Apple has provided a strong forecast for the current quarter, resulting in a 5% bump in its stock prstart, while Figma shares experienced a rise of 14%.
Development Expansions
As part of its growth strategy, Figma plans to establish a development center in Tel Aviv, contributing to its ongoing international expansion and innovation efforts.
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Figma, valued at $25 billion, acquires Israeli startup Weavy, rebranding it as Figma Weave and establishing a development center in Tel Aviv.
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Figma, Weavy, startup acquisition, Israeli startup, development center, Tel Aviv, corporate bonds, cloud revenue, market trends, design software.