Figma, the collaborative design platform, has officially priced its initial public offering at $33 per share, surpassing its projected range of $30 to $32. The offering raised $1.2 billion, with a significant portion of proceeds going to existing shareholders. Figma’s stock is set to begin trading on the New York Stock Exchange under the ticker “FIG,” marking a major milestone for the San Francisco-based company.
This IPO arrives as the public markets slowly reopen for tech companies, following strong performances from earlier entrants like stablecoin issuer Circle and AI infrastructure firm CoreWeave. Figma’s public debut gives it a valuation of $19.3 billion—just shy of the $20 billion valuation it had when Adobe agreed to acquire the company in 2022. That deal collapsed in 2023 after facing regulatory challenges, leading Adobe to pay a $1 billion breakup fee to Figma.
Founded in 2012 by Dylan Field and Evan Wallace, Figma has grown into a key player in the design software market, offering cloud-based tools for designers, developers, and product teams. The company has offices beyond its San Francisco headquarters in countries including France, Germany, Japan, Singapore, and the United Kingdom.
According to Figma’s latest financial disclosures, revenue for the quarter ending in June rose to between $247 million and $250 million, up from $177.2 million a year earlier—representing roughly 40% year-over-year growth. The company projected a modest operating profit between $0 and $2.5 million for the quarter, compared to a loss of $894.3 million in the same period last year, which was largely driven by stock-based compensation expenses. For the previous quarter ending in March, revenue increased 46% to $228.2 million, and net income surged to $44.9 million, tripling year over year.
CEO Dylan Field is the largest individual stakeholder, owning 56.6 million shares and controlling another 26.7 million through voting rights. Among institutional investors, Index Ventures leads with 17% ownership pre-IPO, followed by Greylock at 16%, Kleiner Perkins at 14%, and Sequoia Capital at 8.7%. All top investors are selling part of their holdings as part of the public offering.
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