Dylan Field becomes a billionaire as Figma goes public at $20 billion valuation
- Figma's IPO valued the company at nearly $20 billion following a failed acquisition by Adobe.
- The startup's revenue has nearly doubled since the failed deal, reaching $749 million last year.
- Dylan Field's estimated worth is $1.8 billion, significantly increasing his control over the company.
In the United States, Figma, a design startup co-founded by Dylan Field, recently held an initial public offering (IPO) that valued the company at nearly $20 billion. This came after a failed acquisition by Adobe, which attempted to acquire Figma for the same amount. The acquisition collapsed due to antitrust concerns, as Adobe investors were hesitant to pay a valuation that was significantly higher than Figma's previous worth. During the 18 months following the failed deal, Field redirected the company’s focus, resulting in notable product advancements and growth. Figma's revenue has nearly doubled since the Adobe offer was first announced, reaching $749 million last year, with an impressive increase to $228.2 million in sales during the first quarter of 2025 compared to the previous year. Figma's success has garnered the attention of significant venture capital firms, including Index, Greylock, and Kleiner Perkins, which collectively hold nearly $6 billion in shares from the IPO. The company is now positioned as one of the most valuable startups in Silicon Valley, having achieved this rapid ascent due to its innovative tools that simplify design processes and enable collaboration. Figma's browser-based platform was launched in 2015 and quickly gained traction, leading to its initial $10 billion valuation six years later. However, the competitive landscape is shifting, driven by rising interest in artificial intelligence technologies that may impact Figma's dominance in the design space. The structure of the IPO grants Dylan Field significant control over the company, allowing him to vote the shares of cofounder Evan Wallace, further solidifying his influence. With approximately 74% of the voting rights, Field’s leadership is expected to steer Figma's future direction decisively. As the tech industry awaits further public offerings after a period of stagnation, Figma's success may encourage more startups to pursue similar paths. Field's journey encapsulates the potential for growth and change in the face of setbacks. The IPO not only marks a personal milestone for him but also signals a broader trend of innovation and resilience in the tech sector. Figma's continued expansion and adaptation to market demands could set a precedent for other startups looking to navigate challenges in a competitive environment.