Dylan Field and Evan Wallace started building design startup Figma to challenge Adobe’s PhotoShop. But in the end, Adobe has made them billionaires after announcing it would acquire Figma for $20 billion in a cash and shares deal.
The deal doubles the valuation that the San Francisco-based startup landed in June 2021, when it raised $200 million from investors including Durable Capital and Morgan Stanley. Forbes estimates that Field and Wallace each hold a 10% stake in the company that would now be valued at $2 billion.
Read the full story on Forbes: https://www.forbes.com/sites/iainmartin/2022/09/15/adobes-20-billion-takeover-of-figma-makes-cofounders-billionaires/?sh=49736e8d7634
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