Adobe shares plunge on $20 bln Figma deal; A Microsoft bug sends users to 1930; DotPe raises funding

Adobe shares fell 17 percent yesterday, its biggest fall in 12 years, after it said it will buy design software rival Figma for $20 billion in cash and stock, CNBC reports. Investors are concerned that Adobe is paying too much, according to CNBC. DotPe, a payments service provider and commerce platform backed by Google, has raised about $54.5 million in a new funding round led by Temasek, Inc42 reports. Notes: Adobe shares fell 17 percent yesterday, its biggest fall in 12 years, after it said it will buy design software rival Figma for $20 billion in cash and stock, CNBC reports. Investors are concerned that Adobe is paying too much, according to CNBC. Figma, founded in 2012, creates cloud-based design software that allows teams to collaborate in real-time, directly competing with Adobe’s XD program. “Adobe’s greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions,” said Adobe CEO Shantanu Narayen. “The combination of Adobe and Figma is transformational and will accelerate our vision for collaborative creativity.” A Microsoft Outlook bug sends users to 1930 if they try to look for dates beyond December 31, 2029, The Register reports, citing a cyber security expert who spotted the glitch first and wrote about it on LinkedIn. The application won't let users navigate to a date after December 31, 2029, using the date field [Ctrl + G] and abbreviating the year. If they key in the 01/01/30, Outlook takes them back to 1930, according to The Register, which has replicated it on a desktop-bound Office 365 Outlook app linked to an online account, the tech site reports. DotPe, a payments service provider and commerce platform backed by Google, has raised about $54.5 million in a new funding round led by Temasek, Inc42 reports. The round also saw participation from PayU, Japan’s MUFG Bank, Naya Global Investments, and Info Edge Ventures. The Gurugram venture had previously raised $27.5 million in its Series A round, which was led by Google. DotPe was founded in 2020 by Anurag Gupta, Gyanesh Sharma and Shailaz Nag. It provides omnichannel access to single-point stores, expanding its target audience from being hyper-local to pan-India. It has various partnerships for deliveries, and also with payment vendors such as Google Pay, Paytm, and PhonePe, to support higher-order volumes. Ximkart, a cross-border raw material sourcing startup, has raised $2.4 million in seed funding led by Matrix Partners India, with participation from Multiply Ventures, Better Capital and Citius Ventures and various angel investors, the company said yesterday in a press release. Ximkart was founded in 2022 by Sharan Urubail and Ankush Mittal. The entrepreneurs aim to make importing raw materials easy by providing better discovery, quality, transparency, and accountability and eliminating multiple middlemen in the supply chain. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds