July 31, 2025 • 8 mins
Figma CEO Dylan Field discusses the company's IPO debut, what the company does, the idea behind going public now, implementation of AI, M&A outlook, and more. Field spoke with Bloomberg's Caroline Hyde.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news to our world TV
and radio audiences. Hi, welcome you back to Bloomberg Tech
outside the New York Sock Exchange sat with the latest listing.
The CEO of Figma, Dylan Field, joins me now and
to your thirteen million users, to the thousands of global
(00:26):
employees worldwide, how's it feel about?
Speaker 2 (00:30):
It feels surreal And just thank you for having me
and for being here with us today. It's just amazing
to see the community turn out and also just to
be with the team. The contributions of fig Mates past present,
and also just all the things we've learned and contin
to learn from our community. They all just kind of
show up today in physical manifestation and I can be
(00:52):
more grateful.
Speaker 1 (00:53):
I mean, the vibes, there's a like DJ. There's so
many of your employee base, as you say, your fig mates,
those who are batch you early.
Speaker 3 (01:00):
Why this, why this?
Speaker 1 (01:01):
What does that show about your community?
Speaker 2 (01:04):
Well, I mean what we really wanted to do is
involve the design community in this experience today that we're having,
because I think it's not just that Figma's going public today.
Speaker 3 (01:15):
Design is going public today.
Speaker 2 (01:17):
Yeah, And if you think back several decades, you know, back,
you know, twenty years ago, the sort of mindset was
that design was lipstick on a pig, This is how
you make it pretty, and maybe a decade ago it
was design is how it works. And then today, you know,
twenty twenty five, in a world where software accomplish is
(01:41):
increasing so much, it's easier than ever to create software. Yes,
I think we're now in a world where design is
the differentiator. That's been our thesis for ten years. We've
seen it play out, but it's even more clear now
the design craft point of view, that's what sets companies apart,
and so we're just trying to be this engine for product.
Speaker 3 (02:04):
Sign and development.
Speaker 2 (02:05):
And to be able to celebrate design today with all
of our friends and community is such a privilege.
Speaker 1 (02:11):
What sets you apart to be able to enable design
versus the whole plethora of generative AI startups that is
suddenly here and on these seat and making things very
cheap to build.
Speaker 2 (02:22):
To say, as you say, design, yeah, I think that
there's such an opportunity for us with Pigma Make to
be able to help people go from prompt all the
way to app and we're very focused on that and
improving that surface area.
Speaker 3 (02:39):
We have so much more to come there.
Speaker 2 (02:41):
But already you can not only do things through prompting,
but you can also copy and paste things in from
your Pigma design, your canvas into Figma make. And there
are times you want to edit via prompt there are
also times you want to edit in a more direct
manipulation way where you go in to the canvas and
you're able to see many different options in the option space.
(03:03):
We think both are important and both have to work
really well together, and so that's something we're excited to
uniquely enable. And I just think in general, we're kind
of in this ms dos era of AI and if
we're able to get to the point where we really
was true and if we're able to get to the
point I mean I used to say tellnet era and
people like, let's tell net so you know, stop for
(03:24):
that and went down as das. But if we're able
to get to this point where people can really explore
the latent space of these models and what we generated
and see the entire option space of what they can do,
then humans designers can add that craft yeah, and really
figure out how to differentiate and also the systems their head,
(03:45):
not just the design and the technology system, but also.
Speaker 3 (03:48):
The business constraints.
Speaker 2 (03:50):
And that's why it's important to over the floor ceiling
bring more people into the design process.
Speaker 1 (03:56):
So that one point two billion dollars that you raise
through this process.
Speaker 3 (04:00):
How does that go?
Speaker 1 (04:00):
Where does that get allocated to ensure that you're building well.
Speaker 2 (04:03):
So one thing that was unique by the transaction was
because of the cash balance we have at Pigma uh
you know, due to rounds we've raised but never really
used cash that we've generated, and also the breakup fee,
we had quite a cash balance. And so it's a
transaction that is a lot of secondary and then there's
(04:23):
some primary, but mostly for the release of ursus and
so it's more synthetic primary and the uh so, I
mean we already have quite the cash balance. It's more
or less what we're exiting the transaction with. And when
we think.
Speaker 3 (04:39):
About the future of how to deploy.
Speaker 2 (04:41):
That, First of all, we want to be good schoo
stewards of capital always. But I did put my founder
letter in the s one. Yeah, expect us to make
old moves and I want people to know that in
investment the community, because we're going to invest in AI
we're going into an investment cycle here, and it's important
people are aware of that.
Speaker 1 (04:59):
You all go to invest you're not going to be
focusing on profitability, You'll be focusing on growth.
Speaker 2 (05:04):
We are focusing on growth, and we're focusing on all
the great things that we can do right now and
enable for our users. The value we can create for
our customers.
Speaker 1 (05:11):
Using the public markets are going to give you that.
Speaker 2 (05:13):
Bandwidth, Well, that's their choice. That's why I want to
make sure I call it out up front. Yeah, And
another thing that I think is important to note is
in terms of big swings, I can't say when or if,
but my intention is to do big swings when it
comes to scaled M and A and.
Speaker 1 (05:31):
Well a lot of companies.
Speaker 3 (05:32):
Well, when I.
Speaker 2 (05:33):
Think about how we approach the process, we're always surveyed,
we're always trying to learn, and there's so much that
can be applicable of FIGMA when you think of the
breadth of product design and development and that entire process
which we're really trying to cover. And not all the
gaps we have will be filled with us building our
(05:54):
buy and a lot of them will be partnerships.
Speaker 3 (05:56):
But I wanted to call it out because for.
Speaker 2 (05:58):
Scaled M and A, as you you, that is often
misinterpreted by markets. It creates volatility, people get, you know,
sometimes they don't understand the really good stuff and obviously
will be prudent. You know, it has to be an
amazing team, an amazing asset has to be something that
we think that the team is culturally consistent the least,
(06:20):
but preferably culture ad Yeah, and they're going to create
new dimensionality to our culture that we didn't.
Speaker 3 (06:25):
Have before and we're gonna learn from them Andy.
Speaker 2 (06:27):
But third and most importantly, it has to be a
main priority going forward. That's the minimum, and we will
hold a high bar for what if, we if and
when we do that to.
Speaker 1 (06:37):
Our TV and radio audiences. We're with Dylan Field, the
CEO of Pigma, which has just gone public, and if
we cast our minds back, the valuation that you're currently
at looks at about twenty million dollars and that was
the amount that Adobe wanted to pay to buy you
that didn't work out. So, just talking about M and A,
was this the right path to be independent?
Speaker 3 (06:54):
How does that make you feel?
Speaker 2 (06:55):
I mean, we've been so focused on this path for
years now and I'm just really excited to be here today.
The Adobe stuff kind of feels like so long ago now. Yeah,
and yeah, just as we look forward, I mean, there's
so much to build in, such a breadth of opportunity.
Speaker 3 (07:15):
We have, like I gues said the funeral letter, more
ideas than ever.
Speaker 2 (07:18):
Yeah, And it's all about prioritization, and it's all about
clarity for the team. And that's what we're trying to do,
is to create that clarity.
Speaker 1 (07:25):
I mean talking about demand, you are forty times over
subscribed to those retail investors that want to get in
on this, what do you say the short term if
the shares popped?
Speaker 2 (07:35):
The only message I can give you, if you're on
the retail side is understand what we do. We have
our s one out there. We've done our best to
present it in a really readable way of read the
document and look at our numbers. Understand where we're headed
and what we offer. Play with a product, you know,
(07:58):
become a designer. I think you know that's true for
a lot of people and a lot of companies. If
designs how you win or lose, you should be part
of the process too. But the more you can dive
in and the better you can understand it, the better
you can make a decision on things. And that's the
best advice I give anyone, whether they're joining Figma, trying
to invest in Figma, those are both investments of time
(08:21):
of money, and that's important.
Speaker 3 (08:22):
Is so deeply understand it.
Speaker 1 (08:24):
Dylan Fields, CEO of Figma, on the day of their
IPO from the New York Look Exchange
Bloomberg Audio Studios, podcasts, radio news to our world TV
and radio audiences. Hi, welcome you back to Bloomberg Tech
outside the New York Sock Exchange sat with the latest listing.
The CEO of Figma, Dylan Field, joins me now and
to your thirteen million users, to the thousands of global
(00:26):
employees worldwide, how's it feel about?
Speaker 2 (00:30):
It feels surreal And just thank you for having me
and for being here with us today. It's just amazing
to see the community turn out and also just to
be with the team. The contributions of fig Mates past present,
and also just all the things we've learned and contin
to learn from our community. They all just kind of
show up today in physical manifestation and I can be
(00:52):
more grateful.
Speaker 1 (00:53):
I mean, the vibes, there's a like DJ. There's so
many of your employee base, as you say, your fig mates,
those who are batch you early.
Speaker 3 (01:00):
Why this, why this?
Speaker 1 (01:01):
What does that show about your community?
Speaker 2 (01:04):
Well, I mean what we really wanted to do is
involve the design community in this experience today that we're having,
because I think it's not just that Figma's going public today.
Speaker 3 (01:15):
Design is going public today.
Speaker 2 (01:17):
Yeah, And if you think back several decades, you know, back,
you know, twenty years ago, the sort of mindset was
that design was lipstick on a pig, This is how
you make it pretty, and maybe a decade ago it
was design is how it works. And then today, you know,
twenty twenty five, in a world where software accomplish is
(01:41):
increasing so much, it's easier than ever to create software. Yes,
I think we're now in a world where design is
the differentiator. That's been our thesis for ten years. We've
seen it play out, but it's even more clear now
the design craft point of view, that's what sets companies apart,
and so we're just trying to be this engine for product.
Speaker 3 (02:04):
Sign and development.
Speaker 2 (02:05):
And to be able to celebrate design today with all
of our friends and community is such a privilege.
Speaker 1 (02:11):
What sets you apart to be able to enable design
versus the whole plethora of generative AI startups that is
suddenly here and on these seat and making things very
cheap to build.
Speaker 2 (02:22):
To say, as you say, design, yeah, I think that
there's such an opportunity for us with Pigma Make to
be able to help people go from prompt all the
way to app and we're very focused on that and
improving that surface area.
Speaker 3 (02:39):
We have so much more to come there.
Speaker 2 (02:41):
But already you can not only do things through prompting,
but you can also copy and paste things in from
your Pigma design, your canvas into Figma make. And there
are times you want to edit via prompt there are
also times you want to edit in a more direct
manipulation way where you go in to the canvas and
you're able to see many different options in the option space.
(03:03):
We think both are important and both have to work
really well together, and so that's something we're excited to
uniquely enable. And I just think in general, we're kind
of in this ms dos era of AI and if
we're able to get to the point where we really
was true and if we're able to get to the
point I mean I used to say tellnet era and
people like, let's tell net so you know, stop for
(03:24):
that and went down as das. But if we're able
to get to this point where people can really explore
the latent space of these models and what we generated
and see the entire option space of what they can do,
then humans designers can add that craft yeah, and really
figure out how to differentiate and also the systems their head,
(03:45):
not just the design and the technology system, but also.
Speaker 3 (03:48):
The business constraints.
Speaker 2 (03:50):
And that's why it's important to over the floor ceiling
bring more people into the design process.
Speaker 1 (03:56):
So that one point two billion dollars that you raise
through this process.
Speaker 3 (04:00):
How does that go?
Speaker 1 (04:00):
Where does that get allocated to ensure that you're building well.
Speaker 2 (04:03):
So one thing that was unique by the transaction was
because of the cash balance we have at Pigma uh
you know, due to rounds we've raised but never really
used cash that we've generated, and also the breakup fee,
we had quite a cash balance. And so it's a
transaction that is a lot of secondary and then there's
(04:23):
some primary, but mostly for the release of ursus and
so it's more synthetic primary and the uh so, I
mean we already have quite the cash balance. It's more
or less what we're exiting the transaction with. And when
we think.
Speaker 3 (04:39):
About the future of how to deploy.
Speaker 2 (04:41):
That, First of all, we want to be good schoo
stewards of capital always. But I did put my founder
letter in the s one. Yeah, expect us to make
old moves and I want people to know that in
investment the community, because we're going to invest in AI
we're going into an investment cycle here, and it's important
people are aware of that.
Speaker 1 (04:59):
You all go to invest you're not going to be
focusing on profitability, You'll be focusing on growth.
Speaker 2 (05:04):
We are focusing on growth, and we're focusing on all
the great things that we can do right now and
enable for our users. The value we can create for
our customers.
Speaker 1 (05:11):
Using the public markets are going to give you that.
Speaker 2 (05:13):
Bandwidth, Well, that's their choice. That's why I want to
make sure I call it out up front. Yeah, And
another thing that I think is important to note is
in terms of big swings, I can't say when or if,
but my intention is to do big swings when it
comes to scaled M and A and.
Speaker 1 (05:31):
Well a lot of companies.
Speaker 3 (05:32):
Well, when I.
Speaker 2 (05:33):
Think about how we approach the process, we're always surveyed,
we're always trying to learn, and there's so much that
can be applicable of FIGMA when you think of the
breadth of product design and development and that entire process
which we're really trying to cover. And not all the
gaps we have will be filled with us building our
(05:54):
buy and a lot of them will be partnerships.
Speaker 3 (05:56):
But I wanted to call it out because for.
Speaker 2 (05:58):
Scaled M and A, as you you, that is often
misinterpreted by markets. It creates volatility, people get, you know,
sometimes they don't understand the really good stuff and obviously
will be prudent. You know, it has to be an
amazing team, an amazing asset has to be something that
we think that the team is culturally consistent the least,
(06:20):
but preferably culture ad Yeah, and they're going to create
new dimensionality to our culture that we didn't.
Speaker 3 (06:25):
Have before and we're gonna learn from them Andy.
Speaker 2 (06:27):
But third and most importantly, it has to be a
main priority going forward. That's the minimum, and we will
hold a high bar for what if, we if and
when we do that to.
Speaker 1 (06:37):
Our TV and radio audiences. We're with Dylan Field, the
CEO of Pigma, which has just gone public, and if
we cast our minds back, the valuation that you're currently
at looks at about twenty million dollars and that was
the amount that Adobe wanted to pay to buy you
that didn't work out. So, just talking about M and A,
was this the right path to be independent?
Speaker 3 (06:54):
How does that make you feel?
Speaker 2 (06:55):
I mean, we've been so focused on this path for
years now and I'm just really excited to be here today.
The Adobe stuff kind of feels like so long ago now. Yeah,
and yeah, just as we look forward, I mean, there's
so much to build in, such a breadth of opportunity.
Speaker 3 (07:15):
We have, like I gues said the funeral letter, more
ideas than ever.
Speaker 2 (07:18):
Yeah, And it's all about prioritization, and it's all about
clarity for the team. And that's what we're trying to do,
is to create that clarity.
Speaker 1 (07:25):
I mean talking about demand, you are forty times over
subscribed to those retail investors that want to get in
on this, what do you say the short term if
the shares popped?
Speaker 2 (07:35):
The only message I can give you, if you're on
the retail side is understand what we do. We have
our s one out there. We've done our best to
present it in a really readable way of read the
document and look at our numbers. Understand where we're headed
and what we offer. Play with a product, you know,
(07:58):
become a designer. I think you know that's true for
a lot of people and a lot of companies. If
designs how you win or lose, you should be part
of the process too. But the more you can dive
in and the better you can understand it, the better
you can make a decision on things. And that's the
best advice I give anyone, whether they're joining Figma, trying
to invest in Figma, those are both investments of time
(08:21):
of money, and that's important.
Speaker 3 (08:22):
Is so deeply understand it.
Speaker 1 (08:24):
Dylan Fields, CEO of Figma, on the day of their
IPO from the New York Look Exchange
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