Figma, initially set to be acquired by Adobe, has emerged in a stronger position despite the deal falling through, with its valuation adjusted from $20 billion to $10 billion. The company boasts a significant annual recurring revenue (ARR) of $600 million. This growth comes in the wake of its main competitor, InVision, shutting down. A key factor in Figma's resilience is the $1 billion breakup fee it secured from Adobe. Figma CEO Dylan Field discussed the company's strategy post-Adobe deal, focusing on maintaining its culture, utilizing the breakup fee for expansion, and exploring new growth avenues. Additionally, Figma's success story is partly attributed to its utilization of WebAssembly (Wasm), which played a crucial role in building its $20 billion business before the valuation adjustment.
Despite the acquisition by Adobe not working out and its valuation reduced from $20B to $10B, Figma is in a stronger position than before. It’s grown to $600M ARR and InVision its main competitor has shut down. Additionally it got a $1B break up fee. https://t.co/12mi1a02Uy
Q&A with Figma CEO Dylan Field on managing the company after the failed sale to Adobe, maintaining culture, using the $1B breakup fee, expansion plans, and more (@alexeheath / The Verge) https://t.co/OF9Ku5ENNv 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/WBnHFU8JQ4
In this week's newsletter: I spoke to Figma CEO @zoink for his first extended interview since abandoning the sale to Adobe. He has $1 billion more dollars now, thanks to the break-up fee Figma secured, and is looking at ways his company can expand in big ways.…
Do you know how Wasm helped @figma build a $20 billion business? Previously, we discussed the problem Wasm solves. In this thread, let's dive into Figma's success story. https://t.co/4KfvHYB4Ua
I should point out that Jackpocket was an original sponsor of the Straight to the Point newsletter, and now, a few months later... So, if you want to sell your company for hundreds of millions, get in touch for sponsorship opportunities. In all seriousness, congrats to… https://t.co/D3xQOl96oC