Adobe to acquire Figma for $20 Billion, one of the highest acquisitions by Adobe Inc to date. It has also wiped out one of the top competitors of Adobe from the market. Many believe that it can turn out as a Nokia vs Microsoft deal which may affect the growth of Figma or Instagram vs Facebook acquisition which will make Figma greater than ever with the help of the creative teams of Adobe and Figma, uniting to give the best experience to its users. Well, whatever the case is, Figma was truly worthy of this much amount and the value that it gives to its users. And inverse might have been true if Adobe had waited about ten years.
Here’s a fun fact for you to remember:
Figma was founded in 2012. Just 10 years old company with a $20 billion exit.
Simply AWESOME!
What is Figma, and its impact on UI/UX?
Figma is one of the top design tools for UI/UX designers in the market. Figma, situated in San Francisco and formed in 2012, enables online collaboration between software engineers and designers to create everything from presentation slides to mobile app user interfaces.
It is a clear winner over many design tools due to:
- Whiteboard dashboard
- Simplicity
- Modern and creative design
- Unlimited customizations
- And Figma is free
Interested to explore more about Figma? Please check out: The Amazing Figma
What are the current top 4 best design and creative tools for UI/UX designers in 2022
- Adobe XD
- Figma
- Sketch
- Marvel
Who is Dylan Field, and his Figma startup journey
Dylan Field is the founder of Figma, which has been acquired by Adobe Inc. for $20 Billion. Dylan Field got accepted for the Thiel Fellowship program when he was just 19 years old. He had to drop out of college as a condition to be accepted for Thiel Fellowship. He was granted $100,000 to work on his idea and product, which is worth $20 Billion today.
Kudos to Dylan Field, the brain behind Figma, and his amazing team of creative designers and developers who worked hard to make it bigger and better! And time to thank PeterThiel for believing in the startup founder’s vision once again!
What is the Theil Fellowship
The Theil Fellowship (TTF), one of the most prestigious programs for early professionals and founders, is founded by Peter Thiel, a key early investor in Facebook Inc. You can apply for TTF, just with any idea and you don’t even need to apply with a pitch deck or any traction proofs or a registered company with a dedicated team.
Interested to know more about this wonderful program? Please check out: FAQ – The Theil Fellowship
Let’s share a quick overview for your ease and better understanding:
The Thiel Fellowship gives $100,000 to young people who want to build new things instead of sitting in a classroom. Anyone aged 22 or younger is eligible to apply and it accept applications year round. Thiel Fellows accept applications from all over the world.
About “The Theil Fellowship”
Adobe + Figma
No doubt, Adobe is a leader in the design market with various products including Adobe Photoshop, Adobe Illustrator and Adobe XD etc. But Figma started to challenge its standing in the market with its collaborative web software designed and developed for almost every type of digital design creator with a collaborative approach and whiteboard user interface. This innovation helped many UI and UX designers to start building amazing stuff without buying very costly licenses. Due to the high demand and value of Figma, Adobe realized to acquire it before the inverse happens – which is a smart move yet crazy in terms of the numbers, $20 billion. Figma’s founder, Dylan, and his amazing team did challenge the top leader and proved Figma’s worth, getting acquired for more innovation and fast growth. Well, the story is developing and the future will decide the success and growth of Figma under the umbrella of Adobe. Let’s hope for the best!
“We’re excited to share our intent to acquire Figma. Together, we will usher in a new era of collaborative creativity.”
Official Announcement by Adobe Inc.
Key info: Acquiring Figma
How Rich Technologies (RT) is helping startups?
We are providing IT digital and engineering services to startups and companies since 2008. With our 14+ years of professional experience in the field, we have helped many startups to get things done from the ideation stage to building a fully functional online product. We are specialized in SaaS (software-as-a-service). We have an experienced team of software and web application Php Laravel developers who are ready to help you build whatever you want.
Interested to explore more? Please check out: SaaS Development
Need UI/UX Designer and Web Design Developers for your startup, product, or company?
UI/UX design is one of the top important and main things that you should never compromise on. We are here to help you out with the best creative design and UI/UX for your websites.
Our Creative Design portfolios are available on:
Experience our cool product made for digital influencers, artists, YouTubers, and celebrities:
Let’s get in touch
Do you need a dedicated team of software and web developers, UI/UX designers, and custom SaaS web applications? We are ready to help you out with our professional expert team. Let’s discuss it today! Contact now!
Impact on startup industry and startup founders
Due to COVID-19 and the global recession, it is tough to raise funds or get acquired due to multiple uncertainty factors in the market. This type of startup success story is no doubt a source of inspiration for many startup founders who are working tirelessly to solve problems with innovative solutions.
Our tip to startup founders:
You are doing great. Just believe in yourself and keep doing the good work with full dedication and transprancey. We believe in you and can’t wait for your success stories! Your time will come too! Just keep hustling!!
