Conference Call Scheduled for 7:00 a.m. Pacific Time Today. Rev1 Ventures led the round and was joined by investors including Tamarind Hill, Harbor Street Ventures, M7 NEO, Redgrave Investments, Service Provider Capital, and others. Before that, the biggest was Macromedia for $3.4 billion in 2005. The City of Chicago is using Figma, too, to do open design and extend its team due to being under-resourced. ir@adobe.com, Public Relations Contact Our Friends of Figma program will continue spreading to new local communities. SAN JOSE, Calif.-- (BUSINESS WIRE)-- Today, Adobe (Nasdaq:ADBE) announced it has entered into a definitive merger agreement to acquire Figma, a leading web-first collaborative design platform, for approximately $20 billion in cash and stock. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/. Factors that might cause or contribute to such differences include, but are not limited to: expected revenues, cost savings, synergies and other benefits from the proposed transaction, such as Adobes ability to enhance Creative Cloud by adding Figmas collaboration-first product design capabilities and the effectiveness of Figmas technology, might not be realized within the expected time frames or at all and costs or difficulties relating to integration matters, including but not limited to customer and employee retention, might be greater than expected; the requisite regulatory approvals and clearances for the proposed transaction may be delayed or may not be obtained (or may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the proposed transaction); the requisite approval of Figma shareholders may be delayed or may not be obtained, the other closing conditions to the transaction may be delayed or may not be obtained, or the merger agreement may be terminated; business disruption may occur following or in connection with the proposed transaction; Adobes or Figmas businesses may experience disruptions due to transaction-related uncertainty or other factors making it more difficult to maintain relationships with employees, customers, other business partners or governmental entities; the possibility that the proposed transaction is more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of managements attention from ongoing business operations and opportunities as a result of the proposed transaction or otherwise and those factors discussed in the section titled Risk Factors in Adobes Annual Report on Form 10-K and Adobes Quarterly Reports on Form 10-Q. That idea was enough for Flipboard board director Danny Rimers VC firm, Index Ventures, LinkedIn then CEO Jeff Weiner and others to lead a $4 million seed round in 2013. Later, when some big-name customers, notably Google, asked for volume discounts, Field jumped on the phone to explain why Figma wouldnt budge. Get the world's best creative apps to turn your brightest ideas into your greatest work across desktop and mobile . Financial terms were not disclosed. "With Adobe's amazing innovation and expertise, especially in 3D, video, vector, imaging and fonts, we can further reimagine end-to-end product design in the browser, while building new tools and spaces to empower customers to design products faster and more easily, said Dylan Field, co-founder and CEO, Figma. Creators are currently challenged with making an ever-rising volume of content in close collaboration with an increasing number of stakeholders. Wise co-founder. Adobe - Analyst Relations Ive always been interested in investing in companies and founders who take an old, staid technology category and turn it on its head, often reinventing an entirely new category (and inventing new behaviors) in the process. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE CONSENT SOLICITATION STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT ADOBE, FIGMA AND THE PROPOSED TRANSACTION. Investors and security holders may obtain copies of these documents, when available, as well as other documents filed by Adobe with the SEC, free of charge from the SECs website at www.sec.gov or by accessing Adobes website at https://www.adobe.com/investor-relations.html or by contacting Adobes Investor Relations department by calling (408) 536- 4700, by writing to Investor Relations, Adobe Inc., 345 Park Avenue, San Jose, California 95110-2704 or by sending an email to adobe@kpcorp.com. Popular Items Figma Adobe XD Photoshop Sketch. Figma, launched in 2016, already has millions of users and expects annual recurring revenue to more than double this year from $75 million in 2020, according to sources. Acquired by Adobe San Francisco, California, United States 1001-5000 Venture - Series Unknown Private figma.com 2,749 Highlights Acquisitions 1 Investments 1 Total Funding Amount $333.4M Contacts 667 Employee Profiles 32 Investors 32 , a Berlin-based tech hiring platform, raised 5 million ($5 million) in seed funding led by. Earlier this year, Figma put on their first user conference, Config, which sought to have meaningful conversations around design, connect community with each other in person, and more. Get the latest business insights from Dun & Bradstreet. Investor Relations | Gitlab Inc. Get the full list, To view Figmas complete patent history, request access, Youre viewing 5 of 8 executive team members. What's Figma and Why Adobe Bid $20B To Buy It - HubSpot Blog Figma investors score historic coup with Adobe deal in down year - CNBC References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Like many of you, I grew up using Adobe software and it was a critical part of my personal creative journey. The combined company will have a massive, fast-growing market opportunity and capabilities to drive significant value for customers, shareholders and the industry. There is nothing more powerful than when you give people the tools and building blocks to do their best, come together, and let them take it from there anything is possible. From revolutionizing imaging and creative expression with Photoshop; to pioneering electronic documents through PDF; to creating the digital marketing category with Adobe Experience Cloud, Adobe continues to invent and transform categories. VP Sales. Together, Adobe and Figma will reimagine the future of creativity and productivity, accelerate creativity on the web, advance product design and inspire global communities of creators, designers and developers. In addition to historical information, this communication contains forward-looking statements within the meaning of applicable securities law, including statements regarding the expected timing, completion and effects of the proposed transaction, product plans, future growth, market opportunities, strategic initiatives and industry positioning. How Much Did Figma Investors Make? Early Backers Got $2 Billion - Bloomberg a16z crypto led the round and was joined by investors including 1confirmation, Palm Tree Crew, WndrCo Ventures, Steve Aoki, 3LAU, Wyclef Jean, Disco Fries, Electric Feel Ventures, and others. An integrated set of solutions built to put customer experience at the center of your digital business. The company was well on its way togo public, he says, and the company wasnt tapping into its balance sheet. Adobe-Figma deal: 'I've never seen a level of investor hatred' like Fiscal year 2022. They include Durable Capital Partners and Morgan Stanley's Counterpoint. Insight Partners, Future Ventures, Arcadia Investment Partners, Bold Capital Partners, Plum Alley, Myelin VC, TA Ventures, Gaingels, Korify Capital, and others invested in the round. "They have a fabulous product that appeals to millions of people, they have escape velocity as it relates to their financial performance and a profitable company, which is very rare, as you know, in software-as-a-service companies.". Especially in a time when AI-generated models make us question the role of human creativity, this opportunity is also a huge responsibility. (a16z) personnel quoted and are not the views of a16z or its affiliates. - xtype, a Tel Aviv, Israel-based software delivery platform for ServiceNow, raised $5.8 million in seed funding. All Rights Reserved. Watch webcast. All rights reserved. Its also an exit of record for a slew of investors, ranging from angels like Semil Shah, who backed the company before he had launched his own fund Haystack, or LinkedIn Executive Chairman Jeff Weiner. In one regard, it was a major win. I know firsthand the power of what happens when you make such workflows far easier to collaborate around. Ten years ago, Evan and I set out on a journey to make design accessible to all. Figma is a design platform that develops web applications for interface design with offline features. - Insly, a London and Tallinn-based software platform for insurers, insurance brokers, and managing general agents, raised 1.1 million ($1.1 million) in bridge funding. Form 10-Q. Under the definitive agreement, Adobe has agreed to acquire Figma for approximately $20 billion, comprised of approximately half cash and half stock, subject to customary adjustments. ), The mission today is simple: As Google Docs did for word processing and GitHub for code, so Figma is doing for design. , a London and Tallinn-based software platform for insurers, insurance brokers, and managing general agents, raised 1.1 million ($1.1 million) in bridge funding. , a Boca Raton, Fla.-based early childhood education operator. Figma puts all the pieces together, and into more than the sum of those parts. Got a confidential news tip? Nevertheless, the two kept in touch and would go get dinner every six weeks or so, Lilly says. Thats the story of software, software development, and now, software-based collaboration around design. You should consult your own advisers as to those matters. Personalize which data points you want to see and create visualizations instantly. When we started Figma, our stated vision was to eliminate the gap between imagination and reality. I believe we can reach this goal substantially faster through our plan to join forces with Adobe and leveraging their legendary team plus decades ofexpertise. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE CONSENT SOLICITATION STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT ADOBE, FIGMA AND THE PROPOSED TRANSACTION. The transaction is expected to close in 2023, though it is still subject to required regulatory clearances and approvals. Figma has 6 board members and advisors, including John Lilly. Adobe announces the intent to acquire Figma | Adobe Investor Pitch Presentation Template | Figma Community Dylan Field, co-founder and chief executive officer of Figma Inc., in San Francisco, California, U.S., on Thursday, June 24, 2021. Those seemingly small product features had huge implications for the way people, and companies, not only build technology but collaborate around all their work both within and across organizations. Adobe - Adobe to Acquire Figma To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Adobe - Adobe to Acquire Figma / Chapter 4: Business Combinations And shortly after they launched their plugin platform last summer, more than 700+ third-party plugins have been built for the platform with over 3M plugin installs. Past performance is not indicative of future results. 2. - Fortanix, a Mountain View, Calif.-based multi-cloud security company, raised $90 million in Series C funding. Whether you're brainstorming ideas, designing prototypes, or building solutions, Figma helps teams align early and stay in-sync, from initial idea to shipped product. . Theyre down 67%, CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. The deal announcement is an enormous vote of confidence for Field (Wallace left the company in 2021). Jefferies Equity Research Analyst Brent Thill assesses Adobe's deal to acquire Figma amid its third-quarter revenue beat, while looking at investor responses, the climate of the tech sector, and . , a Bend, Ore.-based plant-based burger joint chain, raised $20 million in funding. , a New York-based work collaboration network, raised $28 million in Series B funding. Adobe needs the growth and new user base from Figma to maintain its dominant position in design. So I want to elaborate more on our plans for how this acquisition will work operationally and why I believe this is a partnership that will ultimately benefit you and the Figmaplatform. And weve been so close to them that I would really be bummed if it stopped here.. , a Seattle-based workplace management software company for hybrid offices. Merger Consideration. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. Financial terms were not disclosed. Joe Bidens campaign managed all its visual assets via Figma. Kate DeLeo - VP, Investor Relations and Business Operations - Figma Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. , a Boston-based air conditioning company, raised $4.5 million in seed funding. , a Boston and Cleveland-based private equity firm, promoted, Americas national beer could soon be Mexican as Memorial Day weekend sales drop plunges Bud Light further into crisis. Financial terms were not disclosed. Adobe executives will comment on the acquisition of Figma today during a live conference call as part of Adobes quarterly earnings report, which is scheduled to begin at 7:00 a.m. Pacific Time. Adobes greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions, said Shantanu Narayen, chairman and CEO, Adobe. This has been in the works over the past few months and Im so excited to finally share this news withtheworld. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. Proxy Statement. For Rimer, yesterday was bittersweet. Hours later, he found out his wife, Elena, was pregnant with their first child. Terms & Conditions. , a Boston-based cloud platform for marketing performance management. But, should the deal go through, two of the biggest winners will be Index Ventures, which joined every round until the most recent, and Greylock, which led the Series A and joined every round since. Zeev Ventures led the round and was joined by investors including Angular Ventures, Heavybit, and Jibe Ventures. The content speaks only as of the date indicated. For the top cloud companies in theBVP Nasdaq Emerging Cloud Index, forward multiples have fallen to just over 9 times revenue from about 25 in February 2021. All of this creates new behaviors, community, and opportunity: By nurturing a deep set of resources and open design community that keeps building on not just adding but multiplying existing assets Figma changes the game. Additional Information and Where to Find It. - Veritas Capital agreed to acquire Sequa, a Palm Beach Gardens, Fla.-based solutions provider for aircraft engines and gas turbines, from Carlyle. Wise co-founder Taavet Hinrikus and Plural invested in the round. Each of the forward-looking statements we make in this communication involves risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. 2023 Fortune Media IP Limited. San Jose, Calif.-based Adobe agreed to acquire Figma in a cash-and-stock deal worth about $20 billion, a Sept. 15 news release said. After an internship at Flipboard, Field dropped out in 2012 to take $100,000 and start a business as a Thiel Fellow (Wallace joined him in California after he got his degree). Columbia Capital led the round and was joined by investors including Inner Loop Capital and SaaS Ventures. When a system has this kind of composability, it creates new building blocks, new combinations, and new kinds of creators who can all now communicate visually with each other both within and across organizations. , a Mountain View, Calif.-based multi-cloud security company, raised $90 million in Series C funding. Because other tools (like InVision, Sketch, Illustrator, and others) only provided isolated pieces of the whole product puzzle. Adobe and Figma will benefit all stakeholders in the product design process, from designers to product managers to developers, by bringing powerful capabilities from Adobes imaging, photography, illustration, video, 3D and font technology into the Figma platform. Bruce Willis family missed a common early dementia symptomand theyre not alone. 7 on this years Cloud 100 list, came around, designers were also turning to Sketch out of Europe and to InVision (No. Dylan Field was 19 years old when he dropped out of Brown University with a Thiel fellowship in 2012 and started working on Figma. , a Colombus, Ohio-based compliance and quality measurement platform for patient care, raised $1.5 million in seed funding. It was basically like a browser-based photo editing tool. - Enzee Health, a Colombus, Ohio-based compliance and quality measurement platform for patient care, raised $1.5 million in seed funding. Concentric, Uniqa Ventures, and an angel syndicate led by Fund Fellow Founders invested in the round. The move allows Figma to retain its unique brand, . - groundcover, a Tel Aviv, Israel-based application monitoring platform, raised $20 million in Series A funding. I was impressed with his ability to synthesize a bunch of data, Rimer says. Figma - Crunchbase Company Profile & Funding That later stage is the companys future, but Field is careful not to look too far ahead. Recognizing that we are in an unpredictable, inflationary environment, we currently have no plan to change Figmas pricing. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) 1 email found 1 phone number found . Adobe and Figma share a passion for helping individuals and teams be more creative and productive. As a high school student at a tech-focused magnet school in Sonoma County, California, Field built robots and websites for friends. Meet the college dropout who invested in Figma-and 22 other Thiel Earnings press release. Win whats next. Key hires along the way were Head of Community Claire Butler, Chief Customer Officer Amanda Kleha and Sho Kuwamoto, director of product. Its Adobes biggest deal ever, and one of the largest acquisitions of a subscription software company in historynot to mention during the early innings of the venture capital slowdown and for a 50x ARR multiple (Adobe projects Figma will surpass $400 million in total annual recurring revenue by the end of this year, it says). Tiger Global and Tusk Venture Partners led the round and were joined by investors including Circle Ventures, Galaxy Digital, Asymmetric, Alchemy Ventures, Solana Ventures, Ava Labs, Polygon, Protocol Labs, Y Combinator Continuity, Blockchain Founders Fund, AV Blockchain Fund, Olive Tree Capital, ProtoFund, and Plug and Play Ventures. We plan to continue to run Figma the way we have always run Figma continuing to do what we believe is best for our community, our culture and ourbusiness. Financial terms were not disclosed. Developer of a designing tool built intended to help companies brainstorm, design, and build better products from start to finish. a16z Podcast: The Changing Culture of Open Source, a16z Podcast: Feedback Loops Company Culture, Change, and DevOps. Rimer says he and his wife had a really nice glass of champagne and that people called to congratulate him that he hadnt spoken with in 20 years. A bull and a bear share their tips on how to invest, Given the plunge in cloud stocks, late-stage companies have steered cleared of the IPO market and private financings in a lot of cases to avoid taking a haircut on their lofty valuations. A live webcast of the conference call can be viewed on Adobes investor relations website: www.adobe.com/ADBE. Valar and Heartcore Capital invested in the round. Remember 2010 QuickBooks? All other trademarks are the property of their respective owners. Hes never deterred by people who think hes not doing the right thinghe just wants the information.. How one builds something is no longer enough; you have to design it well, too. , a San Francisco-based synthetic media production platform, raised $10.6 million in Series A Funding. He later wowed executives at a LinkedIn summer internship by helping devise a social-impact program. Explore, install, use, and remix files and plugins on Figma Community. People who were previously only users could become producers; organizations of all sizes could coordinate work in new ways; software became social again, and supported significant community building around it. At the time, Field was merely an intern, and he made a presentation to the board. Q1. Thats where FigJam comes in, serving as a digital version of a home or office wall covered in Post-it Notes. My goal is that we look back at this acquisition as an inflection point where Figma started building even faster. These technology tools bring new competencies into an organization expanding who can do what by democratizing software and empowering people to do new things. Snowflake, Atlassian and Cloudflare, the three cloud stocks with the highest revenue multiples, have plummeted 41%, 33% and 51% this year, respectively. Get the full list, Youre viewing 5 of 46 investors. Trending Files tagged as investor | Figma Community