![]() ![]() The sale of the company to Ebay back in 2002 netted him around $55 million. Thiel initially made his fortune as the Founder and CEO of PayPal. He may not be widely known outside of Silicon Valley circles, but his reach extends potentially further than any other person in tech. What does all this have to do with PayPal and who are the PayPal mafia?Īll of this was made possible by funds from Peter Thiel. It has been both criticized and lauded throughout its history, but there’s no denying that the program has seen some remarkable success over the past decade.Īs well as Figma’s Dylan Field, the program is responsible for Ethereum, with Vitalik Buterin gong through the program in 2014, OYO Rooms, an Indian AirBnb equivalent worth over $40 billion which was founded by Ritesh Agarwal and autonomous vehicle technology company Luminar Technologies, whose IPO in 2020 saw founder and Thiel Fellow Austin Russell become the world’s youngest self made billionaire at just 25 years old. It’s designed for students and offers them a grant of $100,000 to drop out of college and focus on a business or project. The controversial program was started back in 2010 and is operated by billionaire entrepreneur Peter Thiel through the Thiel Foundation. It makes him the wealthiest Thiel Fellowship alumnus amongst a group that already includes some incredibly successful entrepreneurs. As with any big corporation, it remains to be seen whether that holds true after the honeymoon period has worn off and return on investment becomes a bigger concern.Īdobe is no stranger to the acquisitions market, with other notable rollups including Frame.io Behance and surprisingly even Photoshop way back in 1995.ĭespite being one of Adobe’s biggest competitors there aren’t any major concerns on the deal being approved by the competition regulator, but regardless, the deal isn’t expected to fully complete until 2023.ĭylan Field stills owns approximately 10% of the company, so his net worth alone is set to skyrocket to $2 billion once the acquisition goes through. The deal allows Adobe to take their largest competitor off the market, though as of right now both sides are at pains to reassure users that nothing will change. It’s the largest acquisition that Adobe has ever made, and the news wasn’t met with resounding positivity from shareholders, who felt the company may have overpaid. Late last week, Adobe announced that they would be acquiring Figma for $20 billion in cash and stock. It really took off during the 2020 pandemic when remote collaboration moved from a nice-to-have, to a necessity. Microsoft and Adobe have since released their own collaboration tools, but Figma has experienced a serious growth trajectory since launch. Just like Google Docs, which allowed multiple people to edit and change the same document simultaneously. You’d end up with filenames that looked like - FINALV6.0withjeremyedits11022006īecause Figma runs on a web browser, it allows for real time collaboration across teams, with everyone having access to the same software and projects in real time. The file would be too big to send via email. One person would make changes to the project, send it to someone else, who then might have compatibility issues because they’re on a different version of the software. Think of it like Microsoft MSFT Word to Google Docs. ![]() It was born out of the frustration of trying to collaborate with desktop based software, like Adobe, which was the industry standard at the time. Figma was started by Dylan Field when he dropped out of college in 2012 to undertake the Thiel Fellowship (more on that later). ![]()
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