Figma targets $13.65B valuation in upcoming IPO
What's the story
Figma, a leading cloud-based design software company, is gearing up for an initial public offering (IPO) in the US. The company hopes to achieve a valuation of up to $13.65 billion through this move. The San Francisco-based firm and its investors plan to raise as much as $1.03 billion by selling nearly 37 million shares at an estimated price range of $25-$28 per share.
Market impact
IPO follows collapsed Adobe deal
The upcoming IPO marks a major milestone for Figma, especially after its $20 billion sale to Adobe was called off more than a year ago due to regulatory issues in Europe and the UK. The company plans to list on the New York Stock Exchange under the ticker symbol "FIG." Morgan Stanley, Goldman Sachs, Allen & Co., and JP Morgan will be underwriting this offering.
Growth trajectory
Revenue surged 46% in Q1 2025
Figma's revenue surged 46% in Q1 2025, while its net income tripled. The company serves a broad range of clients, including ServiceNow, Workday, and SAP. Despite its impressive growth, Figma has hinted at potential "big swings" with mergers and acquisitions (M&A). Co-founder and CEO Dylan Field said they are ready to "make decisions that may not seem immediately rational."
Crypto involvement
Figma backs Bitcoin, plans to invest another $30 million
As a major tech player that seems to back Bitcoin, Figma has already caught the eye on social media. The company had invested some $70 million in Bitwise's Bitcoin exchange-traded fund as of March 31 and plans to invest another $30 million into Bitcoin. This move comes as investors have been eagerly awaiting new share sales amid an equities rally and strong debuts recently.