Dylan Field, the 33-year-old cofounder of Figma, has led the company to a historic IPO. Field started Figma in 2012 with Evan Wallace, a teaching assistant at Brown University. Field was a freshman computer science student at Brown 15 years ago.
On Thursday, Figma made its debut on the New York Stock Exchange. It was the first U.S. venture-capital-backed tech IPO in four years. Figma’s stock surged 250% on its first day of trading.
This marked the biggest first-day pop for a billion-dollar tech IPO. Demand was so high that many investors only received a few shares. Trading was temporarily halted due to the volatility.
Figma closed at $115.50 on its first day. This gave the company a valuation of nearly $68 billion. That is more than triple the $20 billion that Adobe offered to acquire Figma for just two years ago.
Field and Wallace thought up the idea for Figma while at Brown. They explored how new browser technologies could democratize creative design through software. In 2012, Field was awarded the Thiel Fellowship.
This is a $100,000 grant for young entrepreneurs who are willing to leave college. Field and Wallace then focused fully on creating Figma. Field has always been a high achiever, especially with technology.
He developed an early interest in computers and robotics.
Figma’s debut on New York Stock Exchange
He held several competitive tech internships while at Brown.
These included internships at LinkedIn and Flipboard. Field’s LinkedIn manager, Peter Skomoroch, and Danny Rimer from Index Ventures helped finance his early ventures. Rimer said in 2023 that Field had a clear vision at age 19 to “democratize the world of design and provide tools to everyone.”
Other early Figma investors included Phoenix Court and Greylock Partners.
Index Ventures ultimately invested $86.5 million in the company. It took until September 2016 for Field and Wallace to publicly launch Figma. By 2018, the company was valued at $115 million.
This valuation skyrocketed during the pandemic. In June 2021, Figma’s valuation reached $10 billion. In September 2022, Adobe announced plans to acquire Figma for $20 billion.
However, regulatory issues led to the deal being canceled in 2023. As part of the cancellation, Adobe paid Figma a $1 billion breakup fee. Despite the failed acquisition, Figma continued to thrive.
The company’s revenue reached $749 million in 2024, up 48% from 2023. In the first quarter of 2025, revenue grew 46% year over year. As of early 2025, Figma has 13 million monthly active users.
95% of Fortune 500 companies use the software. Field shows no signs of slowing down after Figma’s successful IPO. “We know this is just the start,” he said in a statement after ringing the opening bell.
“This is a vision that will play out over many decades, and I believe Figma’s most innovative days are ahead.”
