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Home » Figma (FIG) files for IPO as tech debuts gain steam
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Figma (FIG) files for IPO as tech debuts gain steam

i2wtcBy i2wtcJuly 1, 2025No Comments3 Mins Read
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Dylan Field, co-founder and CEO of Figma, appears at the Bloomberg Technology Summit in San Francisco on May 9, 2024.

David Paul Morris | Bloomberg | Getty Images

Design software company Figma filed for an IPO on Tuesday, and plans to trade on the New York Stock Exchange under ticker symbol FIG.

The offering would be one of the hotly-anticipated IPOs in recent years given Figma’s growth rate and its high private market valuation. In late 2023, a $20 billion acquisition agreement with Adobe was scrapped due to regulatory concerns in the U.K. That led Adobe to pay Figma a $1 billion termination fee.

Revenue in the first quarter increased 46% to $228.2 million from $156.2 million in the same period a year ago, according to Figma’s prospectus. The company recorded a net income of $44.9 million, compared to $13.5 million a year earlier.

Figma didn’t say how many shares it plans to sell in the IPO. The company, valued at $12.5 billion in a tender offer last year, said in April that it had confidentially filed for an IPO with the SEC.

Wall Street banks predicted a rush of IPOs after Donald Trump won the U.S. presidential election in November following a dry spell dating back to late 2021, when soaring inflation and rising interest rates pushed investors out of risky assets. While President Trump’s announcement of sweeping tariffs in April roiled markets and led a number of companies to delay their plans, activity has been picking up of late.

Stablecoin issuer Circle doubled in value in its early June debut and is now up more than sixfold from its IPO price. Online banking company Chime also debuted on in June, following Hinge Health’s IPO in May. Artificial infrastructure provider CoreWeave, which went public in March, jumped 46% in June and has quadrupled since its offering.

Buy now, pay later company Klarna, based in the U.K., filed for a U.S. IPO in March, as did ticket marketplace StubHub.

Figma was founded in 2012 buy CEO Dylan Field and is based in San Francisco. The company had 1,646 employees as of March 31. Field is the biggest individual owner, with 56.6 million Class B shares and 51.1% of voting power ahead of the IPO.

The IPO will also mark another much-needed win for Silicon Valley venture firms, which are in need of returns after the multi-year slump. Index Ventures is the largest outside shareholder, with a 17% stake before the offering, according to the filing. Greylock owns 16%, Kleiner Perkins controls 14% and Sequoia has a stake of 8.7%.

Morgan Stanley and Goldman Sachs leading the deal along with Allen and Co. and JPMorgan Chase.

This is breaking news. Please check back for updates.

— CNBC’s Ari Levy contributed to this report.

WATCH: Figma CEO on failed Adobe deal, startup landscape, big redesign with AI

Figma CEO on failed Adobe deal, startup landscape, big redesign with AI



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