Low-bandgap optoelectronic materials find numerous applications in photovoltaics, sensors, magnetism, and photonics. Due to the limitless chemical space for carbon-based materials, in principle, one can design materials to meet any target functionality. Here, we highlight our success in designing small molecules and conjugated polymers for novel optoelectronic applications. We will share our work elucidating the role of diradical character in organic photovoltaics through careful selection of donor-acceptor (DA) moieties. We also show how control of the topology of DA macromolecule can lead to significantly high polyradical character and global aromaticity. We will conclude the presentation by discussing the realization of stable polymers with triplet ground state that display unique magnetic properties.