Does Figma Make Money?

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2. Does Figma Make Money?

Figma is a vector graphics editor and prototyping tool - the first one with an online user interface - that launched in 2016. It's free to use, with paid plans for teams and organizations. So how does Figma make money?Figma has two revenue streams: licensing fees for organizations that use Figma for work, and selling premium features to individual users. The company has not disclosed how much it charges for licensing, but individual users can pay $12/month for a Pro subscription that unlocks features like version history and unlimited storage.Figma is venture-backed and has raised $83 million since its launch. In 2019, the company was valued at $440 million. It's not yet profitable, but it's growing quickly: revenue was up 500% year-over-year in 2019.The company is betting that its online, collaborative approach will help it win over users who are accustomed to using desktop software like Adobe Photoshop and Sketch. So far, that bet seems to be paying off: Figma has more than 3 million monthly active users, including people at major companies like Google, Facebook, Netflix, and Uber.Figma's success is a bright spot in the otherwise struggling world of design software. Adobe, the 800-pound gorilla of the design world, has been slow to embrace the shift to cloud-based software (though it's finally starting to catch up). That gives Figma an opportunity to build a loyal following among the next generation of designers.Does Figma Make Money? Figma makes money through licensing fees for organizations that use their software as well as selling premium features to individual users.They have not disclosed how much they charge for licensing but individual users can pay $12/month for a Pro subscription. Figma is venture backed and growing quickly with their revenue increasing 500% year-over-year in 2019.