Figma, the design software program unicorn, has confidentially filed for an preliminary public providing greater than a yr after a $20 billion acquisition bid by Adobe fell aside as a result of antitrust issues.
The submitting indicators some optimism for public debuts regardless of the present market turmoil set off by President Trump’s push to implement tariffs. The uncertainty has rattled buyers and sown doubts in regards to the near-term viability of many IPOs.
Figma on Tuesday introduced it had submitted a draft of its IPO submitting to the Securities and Alternate Fee, however didn’t publicly launch the total doc, which might usually present monetary particulars about its operations.
The valuation Figma in the end seeks within the public markets shall be one thing to look at. In 2021, amid a low curiosity rate-fueled enterprise capital increase, Figma was valued in its Collection E at $10 billion. In 2024, Figma performed a young supply that valued the corporate at $12.5 billion.
Figma’s VC backers embrace Kleiner Perkins, Sequoia Capital, Greylock, Index Ventures, Founders Fund, and quite a few others.
Figma has about 1,600 workers and tens of millions of shoppers, together with Airbnb, Google, Microsoft, Netflix, Salesforce, Spotify, Sq., Stripe, and Zoom. The enterprise can also be worldwide, with 85% of its customers outdoors the U.S.
Figma publicly shared some monetary particulars in Might 2024, when the corporate instructed CNBC that it had $600 million in annual recurring income. ARR is a crucial benchmark for a lot of firms, because it measures predictable income that’s often tied to long-term contracts and subscription-based income.
Figma, based in 2012 by Dylan Subject and Evan Wallace, has made headlines in recent times, each round excessive expectations for when it could file for an IPO and for the way it could fare within the aftermath of Adobe’s thwarted mega-acquisition. (Subject and Wallace met whereas college students at Brown College.)
In 2022, Adobe introduced plans to accumulate Figma, however confronted intense regulatory scrutiny, together with from the European Fee. In 2023, the 2 firms backed away from the deal, and Adobe paid Figma a $1 billion termination payment.
This story was initially featured on Fortune.com
