Based in San Francisco Dylan Field is now on everyone’s lips in the technology city. His design software company Figma was established out of stock past the RivalAdobe Inc ADBE.
Adobe agreed to pay $20 billion for Figma, which Field co-founded with a former Brown University classmate. Figma was valued at $115 million in 2018.
By 2021, that valuation had grown to $10 billion in another round of fundraising. Figma’s software allows customers to collaborate to design projects together.
Field, who left Brown, received a scholarship from the billionaire Peter Thiel and founded his software company.
The scholarship offered applicants $100,000 in funding if they agreed to drop out of college to pursue entrepreneurial goals.
According to an analysis of PitchBook data by the Bloomberg Billionaires Index, Field’s stake in Figma alone is worth more than $2 billion at purchase price.
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In an interview with The Wall Street Journal, Field said he’s still processing the magnitude of the changes in his life.
He said Adobe approached him several months ago to start talks, but the announcement was pushed ahead after his team found out the media company had started investigating.
He added that he was up most of the night as they raced to break news of the deal.
Field said in a 2012 Thiel grant pitch“Learning how to use Photoshop is a long, tedious process.” He then worked to simplify creative tools in a browser rather than relying on expensive graphics programs.
Figma’s client list includes Uber Technologies Inc ABOVE and block inc Q.
