Figma

Figma was founded in 2012 by Dylan Field and Evan Wallace. The company is headquartered in San Francisco, California. Figma is a browser-based collaborative interface design platform — a SaaS tool that allows designers, product managers, and engineers to create, prototype, and hand off UI designs in real time, all within a web browser without requiring local software installation.

Figma remained private for most of its history, raising successive venture rounds. In September 2022, Adobe announced an agreement to acquire Figma for approximately $20 billion. That acquisition was abandoned in December 2023 after regulators in the UK and EU blocked it on competition grounds. Following the collapse of the deal, Adobe paid Figma a $1 billion termination fee. Figma subsequently filed confidentially for an IPO in 2024 and went public on the NYSE in 2025.

Figma's primary product is a browser-based vector design and prototyping tool. It solves the collaboration problem that defined earlier desktop-based design workflows — in tools such as Sketch or Adobe XD, only one designer could work on a file at a time, and sharing required exporting files. Figma made design files live and multiplayer, enabling real-time co-editing. The primary buyers are product design teams, UX researchers, and front-end engineering teams at technology companies, ranging from individual developers on a free tier to large enterprises on negotiated contracts. Figma is sold through a self-serve freemium model with per-seat paid plans, supplemented by enterprise sales for large organizations.