Adobe recently announced that it has entered into a definitive merger agreement to acquire Figma, a collaborative graphics and design web application. Dylan Field, Figma’s co-founder and CEO, tweeted: ‘@Adobe believes that @Adobe’s deep expertise and access to innovation will enable @Figma to achieve our vision of ‘making design open’. All are much faster.
Dylan Field and Evan Wallace started building the design startup Figma to challenge Adobe’s Photoshop. Now, Adobe has made them billionaires after announcing that it will acquire Figma for $20 billion in cash and stock deals. Figma is branded as Google Docs or GitHub for designers with a loyal client base who pay $12-$45 per editor for digital whiteboard products. But who is Dylan Field? Also, what does this argument mean for Figma?
— Dylan Field (@zoink) September 15, 2022
Who is Dylan Field?
Dylan Field is the CEO and co-founder of Figma, a graphic and design web application. According to his LinkedIn page, Dylan Field attended Brown University where he studied computer science and mathematics. After over two and a half years in college, Dylan took a leave of absence in 2012 and accepted Thiel Grant. Dylan Field describes this as ‘a $100,000 grant for two years to drop out of college and pursue an entrepreneurial project’. Prior to Figma, Dylan Field worked at Flipboard as a product design intern and a software engineering intern. In Figma’s blog post, Field said that one of his best jobs as his CEO was ‘playing an anthropologist’.
Over the past five years, I have witnessed firsthand how working in a collaborative digital space moves groups from a ‘my idea’ mindset to ‘our ideas’. It’s personal and exposing your work to others to expand and remix can feel like you’re opening up a part of yourself. However, this is why this change is so important. In 2015, Dylan Field was highlighted in Forbes’ 30 Under 30: Consumer Skills list. At that time he was only 22 years old.
Adobe Announces Acquisition of Figma
Adobe reported on Thursday, September 15 that it had entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for approximately $20 billion in Cask and Stock. Founded in 2012 by Dylan Field and Evan Wallace, Figma enables clients to collaborate when creating software, and demand surged during the pandemic while additional individuals worked remotely. Shantanu Narayen, Chairman and CEO of Adobe, said, “Adobe’s importance is rooted in our ability to create new classifications and deliver cutting-edge technology through natural development and mineral acquisitions.
The combination of Adobe and Figma will accelerate our vision of innovative and collaborative innovation. As the press release states, Adobe and Figma will ‘reinvent the fate of creativity and productivity, accelerate creativity on the web, advance product design, and revitalize the global community of creators, designers and developers. Both Adobe and Figma are passionate about helping people and groups become more imaginative and useful. This means that the joining companies will integrate their capabilities for conceptualization, sharing, creativity and collaborative effort and benefiting from these advancements in a huge number of clients.