The deal values Figma cofounders Dylan Field and Evan Wallace’s stakes in the buzzy design startup at $2 billion apiece.
The company also reported $4.43 billion inwhen it announced its earnings on Thursday. Adobe shares traded down 8.43% in premarket trading after its fourth-quarter forecast fell below analyst expectations.
Figma CEO and cofounder Field will continue to lead the company when the deal closes in 2023. Adobe forecast that Figma would double its annual recurring revenue to $400 million in 2022.Field and Wallace met while studying computer science at Brown University and decided to start a company together. Field took a Thiel Fellowship and dropped out of college in 2012 to begin building what would become Figma.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$20 Billion Figma Deal Is a Historic Coup for Startup Investors in an Otherwise Miserable YearJust over a year after raising money at a $10 billion valuation, Figma is getting acquired at twice that price by Adobe.
Read more »
Adobe buying design startup Figma for $20 billionAdobe has agreed to buy design startup Figma for $20 billion. This would be the largest acquisition ever of a privately held software company.
Read more »
Adobe acquires collaborative design platform Figma for $20 billion | EngadgetAdobe is acquiring collaborative design giant Figma for $20 billion, but it's expected to keep its distance for now..
Read more »
Adobe buying Figma in $20B cash-and-stock dealSoftware company Adobe is buying online design company Figma in an approximately $20 billion cash-and-stock deal. Figma, founded in 2012, allows those who design interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich developer ecosystem.
Read more »
Adobe buying online design company Figma in $20 billion cash-and-stock dealFigma, founded in 2012, allows those who design interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a rich developer ecosystem.
Read more »
Adobe to Buy Figma for About $20 BillionAdobe is in advanced talks to buy Figma for around $20 billion, in a deal that would be the software company’s largest.
Read more »