Sep 16, 2022
Adobe’s $20 Billion Takeover Of Figma Makes Cofounders Billionaires
Posted by Gemechu Taye in category: habitats
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.
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