4/14/2023 0 Comments Figma desktop app![]() "23-Year-Old's Design Collaboration Tool Figma Launches With $14M To Fight Adobe". "Why Teams at Uber and Slack Use This Powerful Design Tool". ^ a b Berg, Maddie (September 9, 2012)."Figma gets $40 million Series C to put design tools in the cloud". ^ a b Crook, Jordan (February 15, 2019)."Figma Wants Designers to Collaborate Google-Docs Style". įigma was valued at more than $2 billion by April 2020 and $10 billion by the end of May 2021. In June 2021, Figma raised $200 million in a Series E funding round. In April 2020, Figma raised $50 million in a Series D funding round. In February 2019, Figma raised $40 million in Series C funding. In February 2018, Figma raised $25 million in a Series B round. In December 2015, the company raised $14 million in Series A funding. In June 2013, Figma raised $3.8 million in seed funding. This raised the question about tech mergers and acquisitions: is there a competition or antitrust issue? John Naughton suggested that the US FTC should challenge, investigate, and ban the purchase-as it should have responded to the Facebook purchases of Instagram and WhatsApp-if not it will show that tech companies have little to fear from regulators other than the odd, affordable, multibillion-dollar fine. Internal Facebook documents described WhatsApp-not a direct competitor-as "a threat to our core businesses. Comparisons were made with the purchase by Facebook of WhatsApp in 2014, again at a price far more than the acquired company-"clean and efficient and a simple and honest business model"-was worth. ![]() At the time Figma already had such workflows, but Adobe only makes software tools. This makes effective project management essential, with efficient, user-friendly and agile workflows. At the time of the purchase, with networked working expanding, ever more work is being done by geographically dispersed teams that collaborate online. Figma, while not a direct competitor of Adobe, posed a potential strategic threat. ![]() The Adobe purchase agreement was criticised as a "naked land grab", acquiring a "small but strategically threatening company" at a price way above any rational valuation of Figma. On September 15, 2022, Adobe announced it had entered into an agreement to acquire Figma for about US$20 billion in cash and stock, with Field remaining as CEO following the acquisition. In June 2022, Google for Education announced that it would be partnering with Figma to bring its design and prototyping platform, as well as FigJam, to education Chromebooks. On April 21, 2021, Figma launched a digital whiteboarding capability called FigJam, allowing users to collaborate with sticky notes, emojis and drawing tools. On October 22, 2019, Figma launched Figma Community, allowing designers to publish their work for others to view and adapt. It saw its first public release on September 27, 2016. įigma started offering a free invite-only preview program on December 3, 2015. Wallace joined Field in California after completing his degree in computer science, and the two began working on the company full time. įield was named a Thiel Fellow in 2012, earning him $100,000 in exchange for taking a leave of absence from college. The company's early scope was described in a 2012 article by The Brown Daily Herald vaguely as "a technology startup that will allow users to creatively express themselves online." That article reported that the company's first ideas revolved around 3D content generation, and subsequent ideas focused on photo editing and object segmentation. The original objective behind Figma was to enable "anyone be creative by creating free, simple, creative tools in a browser." Field and Wallace experimented with different ideas, including software for drones and a meme generator, before settling on web-based graphics editor software. ![]() Wallace studied graphics and was a Teacher Assistant for the Computer Science Department, while Field chaired the CS Departmental Undergraduate Group. Dylan Field and Evan Wallace began working on Figma in 2012 while studying computer science at Brown University.
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