Bloomberg:
PitchBook: Figma deal is the largest exit for a VC-backed company in ~20 years; source: Index Ventures’ ~12% stake makes it Figma’s biggest outside shareholder — Danny Rimer first invested in Figma in 2012, shortly after the company was established and began developing software tools for designers.
Kate Clark / The Information:
SBF quietly invested $500M+ in Paradigm, Altimeter, and other VCs, including, sources say a $200M commitment to Sequoia, and $300M to K5 per PitchBook — FTX founder Sam Bankman-Fried was not only a tireless fundraiser from venture capital firms including Paradigm and Sequoia Capital …
Kyle Wiggers / TechCrunch:
Hebbia, a startup founded by Stanford AI researchers that’s developing AI-powered search tools, has raised a $30M Series A led by Index Ventures — Hebbia, a startup developing AI-infused search tools, today announced that it raised $30 million in a Series A round led by Index Ventures with participation from Radical Ventures.
Bloomberg:
A profile of Figma founder Dylan Field, who will become the wealthiest person from the Thiel Fellowship by far, as PitchBook estimates his stake is worth $2B+ — Dylan Field dropped out of an Ivy League school in 2012 to take a grant from the billionaire Peter Thiel and start a software company called Figma.
Bloomberg:
Adobe plans to acquire UI design and prototyping tool Figma for around $20B in cash and stock; Figma CEO Dylan Field will continue in the role — Adobe Inc. is nearing a deal to acquire Figma, a startup that makes online design collaboration tools, people with knowledge of the matter said.
Hunter Walk:
Adobe’s $20B Figma deal is worth it because Figma’s $400M ARR, independent of margin, was continuing to double and creating pricing pressure on Adobe — Hint: The Answer Doesn’t Involve a Spreadsheet — I’m not an investor in Figma. I don’t know Figma CEO Dylan Field. And I’m not a designer.
Reuters:
Sources: SoftBank sells 29.35M Paytm shares, or a 4.5% stake, for $200M, causing Paytm stock to drop 9%+; Vision Fund was Paytm’s second-largest shareholder — SoftBank Group Corp (9984.T) on Thursday sold a 4.5% stake in Indian digital payments giant Paytm (PAYT.NS) through block deals for $200 million …
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