Sep 16, 2022

Adobe’s $20 Billion Takeover Of Figma Makes Cofounders Billionaires

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Dylan Field and Evan Wallace started building design startup Figma to challenge Adobe’s PhotoShop. Now Adobe has made them billionaires after announcing it would acquire Figma for $20 billion in a cash and shares deal.

The deal doubles the valuation that the San Francisco-based startup landed in June 2021, when it raised $200 million from investors including Durable Capital and Morgan Stanley. Forbes.

Figma has been branded the Google Docs, or GitHub, for designers with a loyal user base in the millions paying between $12 or $45 per editor for its digital whiteboard product.

The deal values Figma cofounders Dylan Field and Evan Wallace’s stakes in the buzzy design startup at $2 billion apiece.

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