Adobe Announces Plans to Acquire Figma, EDX CEO Jamil Nazarali on Crypto Exchange Launch & Breaking Down the NFL’s Streaming Push 9/15/22

TechCheck

CNBC

Technology, Business, Cnbc, Faang, Investing, Disruptors, Management, Tech

4.5 • 66 Ratings

🗓️ 15 September 2022

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Our anchors begin today’s show with Plexo Capital Founding Managing Partner Lo Toney offers his insight on Adobe’s plans to acquire design platform Figma, and Evercore ISI Head of Internet Research Mark Mahaney joins after upgrading Netflix to outperform. Then, we cover a press conference from President Biden on the recent agreement struck between rail companies and unions to avoid a nationwide strike. Next, our Jon Fortt shares highlights from his interviews at Goldman Sachs’ Communacopia Conference with the CEOs of software firms Nutanix and MongoDB. We also sit down with EDX CEO Jamil Nazarali to discuss the new crypto exchange’s launch, backed by a blend of financial leaders and venture capital firms. Later, CNBC’s Kate Rooney reports on higher funding costs facing buy-now-pay-later companies, and NFL Chief Media and Business Officer Brian Rolapp discusses the league’s opening weekend and push into streaming. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	I'm Julia Borsden, and you're listening to CNBC's Tech Check.
0:03.5	Our show is live weekdays at 11 a.m. Eastern, listen in.
0:09.5	Good Thursday morning. Welcome to Tech Check. I'm Carl Kinteneer with John Fortin. Dear DeBosa.
0:13.8	Today, some early results in a new $20 billion deal sending Adobe plunging today.
0:19.0	We'll talk about that. Is a deal making Renaissance coming?
0:22.6	Something to debate.
0:24.1	And Netflix, a rare outperformer today.
0:26.8	Why Evercore says by now, as shares pop more than 5%, although the NASDAQ down, about 1.3%
0:33.6	as yields today remain stubbornly high.
0:36.2	Guys, we got to start with a deal of the day,
0:37.8	and that is Adobe.
0:38.6	Shares plunging after releasing earnings this morning ahead of schedule.
0:42.1	The top line did miss.
0:43.1	Bottom line was a beat.
0:44.6	Guidance for the current quarter, a bit mixed.
0:46.6	Overshadowed, of course, by the company announcing it will acquire
0:50.0	rival design platform Figma for about $20 billion.
0:53.6	Shotsonune Ryan did join us on Squawk on the Street today for a closer look.
0:57.7	Here's what he said.
0:59.8	The deal is really all about the top line and accelerating top line.
1:04.2	You know, we're an extremely profitable company.
1:06.7	And what we have said is we have some aggressive goals in terms of being able to make this
	...

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