Figma's Revenue Explosion
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A story about Figma's incredible revenue growth and eventual acquisition by Adobe for $20 billion.
"Figma started charging customers in 2017. In 2018, they were at $4.1 million in revenue. In 2019, $23 million. In 2020, $77 million. In 2021, $100 million. And check this out - their 2022 goal, which they're on pace to hit, is $450 million.
The company was founded around 2011, but they didn't make any revenue for the first 5 years. The founder was just building the product slowly but surely, then got to a private beta, then a public beta, and finally started charging people in 2017.
During this time, there were lots of distractions - like the ICO boom in crypto in 2017 - but they didn't take their eye off the ball. They just kept going, kept building, and they won. Adobe ended up acquiring them for $20 billion, up from their $2 billion valuation when we first discussed them."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.