![]() “We are engaged in constructive and cooperative discussions with regulators in the US, UK and EU among others. The company indicated it is continuing to work with the various regulatory bodies to bring the deal to fruition. Together, our vision will help enable millions of consumers to transform their productivity with creativity,” the company said. Adobe is a leader in the creative tools space, helping millions of users create amazing visual content. “Figma is a leader in interactive product design, focused on building a collaborative web platform. In a statement, Adobe took exception with the idea that the deal is anti-competitive, arguing that the two companies are looking at very different markets - creativity and collaboration. The U.K.’s competition arm is also looking closely at the proposed acquisition. This comes on the heels of the EU announcing plans earlier this month to review the deal on competition concerns. Bloomberg first reported the story yesterday afternoon. Eventually, Folger and Cunningham want to see Scenery in the hands of filmmakers and even Hollywood editors.The DOJ is reportedly getting ready to file suit to block the $20 billion Adobe-Figma deal announced last year on the grounds it is anti-competitive. Scenery's target users include political teams producing campaign ads, creative agencies, and even student groups working on end-of-quarter projects. However, he believes the days of hovering over a video editor's shoulder in the cutting room are numbered. "As teams have gone remote, it's presented a huge challenge."įolgner concedes that single player platforms are still faster than multiplayer ones. "It's still primarily done on the desktop through Premiere and Final Cut," Folgner said. Yet video editing has remained a solo pursuit. He cites the collective transition from Microsoft Word to Google Docs, Powerpoint to Keynote, and Adobe Sketch to Figma. "The thesis we have is that there's a shift in productivity tools from single user desktop to web, collaboration, team-based," said Folgner. Folgner likens it to a cross between Google Docs and Figma, a collaborative platform for UX design, for video editing. For the past six months, it has been undergoing trials by video editors, companies, and student groups. Scenery allows teams to storyboard, ideate, upload and manage media content in real time. ![]() ![]() Greylock Partners was also an early investor in Figma. The round also included participation from Craft Ventures, Precursor Ventures, Wireframe Ventures, and Figma Ventures, the company's investment fund formed this year. ![]() The company just raised a $14.6 million Series A led by Greylock Partners. An Ofoto for video editing was right around the corner.įolgner recalled that Schmidt circled the idea in his thesis in red and made a note: "This should get funded," he wrote.Īfter business school, Folgner and classmate Ryan Cunningham, launched three different companies for video editing tools - the latest, which debuted in June, is Scenery, a video editing software designed to facilitate collaboration across creative teams. Folgner proposed that the next medium to go digital would be video. He was writing his senior thesis in a class co-taught by Silicon Valley veterans, then Google CEO, Eric Schmidt, and Sierra Ventures founder, Peter Wendell.Ī decade before, photography had made the jump from film to hard disc, and brought about a slew of photo-editing tools like Ofoto and Shutterfly. In 2004, Mike Folgner was finishing up his second year at Stanford Graduate School of Business. The company just landed $14.6 million in Series A funding from Greylock Partners and others.Its goal is to take video editing from a single player to multiplayer system.Scenery is a collaborative video-editing platform designed for the new era of remote work.Account icon An icon in the shape of a person's head and shoulders. ![]()
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