On July 31, 2025, Figma launched its initial public offering (IPO) on the New York Stock Exchange, with its stock price soaring by 229% on the first day alone. The company’s co-founder and CEO, Dylan Field, saw his stake valued at approximately $6.6 billion on that very day.
Behind this remarkable success lies a decade-long journey marked by persistence, strategic adaptation, and continuous learning.
The Thiel fellowship and early steps
Mark Zuckerberg may be the most iconic figure among those who left college to become tech billionaires, but today another name joins that list — Dylan Field.
In 2012, Field was awarded a Thiel Fellowship, prompting him to leave Brown University to pursue entrepreneurial endeavors. Initiated by investor Peter Thiel, the program awards funding to young talents willing to leave traditional education behind to innovate and build new ventures. At the time, Field had completed two and a half years at Brown University and soon began developing the idea for what would later become Figma.
He received $100,000 through the fellowship, which he shared with fellow student and programmer Evan Wallace. Although they initially aimed to develop software for drones, they soon shifted their focus to a browser-based design platform — an idea that evolved into Figma.
Early challenges and a defining decision
The first versions of Figma failed to impress users or investors. Although John Lilly from Greylock Partners recognized the team’s technical potential, he remained skeptical about its commercial viability. Internally, Field’s micromanagement style caused growing dissatisfaction among the team.
After candid discussions with investors, Field accepted the feedback and embraced change — a leadership trait that would become central to his success.
Joshua Browder, founder of DoNotPay and a fellow Thiel alumnus, remarked: “Dylan is, by far, the most humble billionaire I’ve ever met.”
A market breakthrough: the real Figma
In 2016, Figma launched its first public product. Its real-time collaboration capabilities marked a turning point in the design world. Leading companies like Microsoft, Uber, and Coda quickly adopted the platform.
Figma’s core advantage lay in its simplicity: users could collaborate via shared URLs, eliminating the need for local file management and version control issues.
Accelerated growth during the pandemic
The global shift to remote work during the COVID-19 pandemic in 2020 significantly boosted Figma’s relevance. Its cloud-based infrastructure proved ideal for distributed teams. That same year, the company launched FigJam, a digital whiteboard tool that further facilitated creative collaboration.
The Adobe deal and preserving independence
In 2022, Adobe proposed acquiring Figma for $20 billion, which would have been one of the largest acquisitions in the software industry. However, by late 2023, the UK’s Competition and Markets Authority raised antitrust concerns, ultimately leading to the deal’s cancellation. Adobe paid $1 billion in termination fees to Figma.
Field responded proactively by offering additional equity to employees and a three-month severance package for those wishing to leave. Fewer than 5% of employees accepted the offer, indicating widespread internal confidence in the company’s future.
Entering the AI era: Figma make
In 2025, Figma introduced Figma Make, a tool leveraging artificial intelligence to transform design concepts into interactive prototypes. Users could simply enter prompts to generate fully functional UI components.
Field personally introduced the product and remained actively engaged with users. Even on the day of Figma’s IPO, he was seen replying to user queries on social media — a testament to his hands-on leadership style.
Final reflection: Figma as a philosophy
From the beginning, Dylan Field adhered to a core belief: “Anyone can be creative.” Figma evolved not just as a tool for design, but as a platform that redefined collaboration and accessibility in digital creativity.
Despite achieving billionaire status, Field continues to prioritize user feedback and community engagement. Today, Figma stands as a symbol of technological openness, collaborative culture, and product-led innovation.
Figma is more than a design tool — it is a movement grounded in empowerment, creativity, and the future of digital work.
Prepared by Laylo Khondamirovna
