Design software company Figma is aiming for a valuation of up to $13.65 billion in its upcoming US initial public offering, planning to list on the New York Stock Exchange under the ticker “FIG.”
The company and its investors hope to raise as much as $1.03 billion by selling about 37 million shares, priced between $25 and $28 each. This IPO arrives as investor appetite for tech listings picks up again.
Founded in 2012 by Dylan Field and Evan Wallace, Figma is best known for its collaborative, cloud-based design tools, which have become popular with companies like Netflix, Stripe, and Duolingo.
The business has grown rapidly, with first-quarter revenue up 46% year-on-year to $228.2 million.
Figma now counts 450,000 customers, including over 1,000 accounts generating at least $100,000 annually. Its growth has been supported by a wide user base and high-profile venture backing from firms such as Index Ventures, Greylock, Kleiner Perkins and Sequoia.
The company’s path to the public markets follows the collapse of a $20 billion takeover by Adobe last year, after UK regulators raised competition concerns.
The failed deal resulted in a $1 billion break fee paid to Figma by Adobe.
Since then, Figma has continued to innovate, launching new products like Figma Sites, and making strategic acquisitions in the design and content management space. Figma also invests in digital assets, with significant stakes in Bitcoin and stablecoins.
The company joins a wave of recent US tech IPOs, with listings from firms such as Chime, Hinge Health, and Circle reflecting renewed confidence in public markets.