Dylan Field, the 33-year-old cofounder of Figma, has led the company to a historic IPO. Figma made its debut on the New York Stock Exchange on Thursday, marking the first U.S. venture-capital-backed tech IPO in four years. The stock soared 250% on its first day of trading, closing at $115.50 and giving the company a market cap of almost $68 billion.
Field cofounded Figma in 2012 with Evan Wallace, a Brown University teaching assistant. They conceived the idea to democratize creative design through software by exploring the potential of new browser technologies. In 2012, Field was awarded a $100,000 grant for young entrepreneurs, which allowed him and Wallace to develop Figma, a web-based design tool.
Field’s early fascination with technology began at age three, and he demonstrated entrepreneurial spirit from a young age. He secured early investments from supporters like Peter Skomoroch, his manager at LinkedIn, and Danny Rimer, a general partner at Index Ventures. Other early investors included Phoenix Court and Greylock Partners.
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After four years of development, Field and Wallace publicly launched Figma in September 2016. The company’s valuation skyrocketed during the pandemic, reaching $10 billion by June 2021.
In 2022, Adobe announced plans to acquire Figma for $20 billion, but regulatory roadblocks eventually halted the deal. Undeterred, Figma continued to thrive. In 2024, the company’s revenue reached $749 million, a 48% increase from the previous year.
By early 2025, Figma had 13 million monthly active users, with 95% of Fortune 500 companies using the software. As Figma embarks on its next chapter as a public company, Field remains optimistic. “We know this is just the start,” Field said 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.”