The $20-billion exit marked a major win for Figma's venture capital backers, including Index Ventures, Greylock Partners and Kleiner Perkins. The deal is expected to close in 2023, subject to regulatory approvals.įield had dropped out of the Ivy League school in 2012 to accept a $100,000 grant from billionaire Peter Thiel to start Figma and become the wealthiest person to go through Thiel Fellowship.Īdobe and Figma’s cash-and-stock deal will give Adobe the ownership of a company whose web-based platform for brainstorming and designs is widely popular among tech firms including Airbnb Inc, Zoom Video Communications, and Coinbase.
Both Adobe and Figma will run independently until the transaction closes and Field, who will continue to lead the Figma team, will report to the president of Adobe's Digital Media business David Wadhwani.
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