Figma has announced plans to list on the NYSE under the ticker FIG, targeting a valuation of approximately $13.65 billion. It aims to raise up to $1.03 billion through the issuance of nearly 37 million shares at a price range of $25–$28 each
🔍 Why It Matters
- Comeback after Adobe collapse: Over a year after Adobe’s planned $20 billion acquisition was blocked by regulators, Figma pivots to independence and IPO—signaling resilience and ambition
- Tech IPO revival: Its listing marks a key moment in the recovery of the tech IPO market, following successful debuts like stablecoin firm Circle
- Strong financial growth: Figma reported a 46% YoY revenue rise in Q1 2025 and net income tripling; its 2024 revenue hit $749 million, with a profitable Q1 quarter
- Diversified future plays: Already holding $70 million in Bitwise bitcoin ETF and planning an additional $30 million crypto allocation, plus signals of upcoming M&A actions
📊 IPO Details at a Glance
| Metric | Details |
|---|---|
| Valuation Target | $13.65 billion (approx $13.7 billion) |
| Shares Offered | ~37 million Class A shares |
| Price Range | $25–$28 per share |
| Expected Proceeds | Up to $1.03 billion |
| Underwriters | Morgan Stanley, Goldman Sachs, Allen & Co, JPMorgan |
🌐 Background & Strategic Outlook
- Figma, a collaborative web-based design platform, competes with Adobe in UI/UX design spaces and is widely adopted by Fortune 500 firms
- After launching critical products like FigJam, Dev Mode, and AI-powered design tools, Figma is well-positioned for growth
- Under CEO Dylan Field, the company suggests readiness for strategic acquisitions (“big swings”) to expand capabilities
🧭 Market & Expert Insights
- Venture capital exits are accelerating—Q2 2025 saw $67.7 billion in VC exits, with Figma’s IPO a standout among tech listings Financial Times.
- Analysts view Figma’s collaborative “bottoms-up” growth model as efficient and viral among design teams
👀 What to Watch Next
- IPO performance: Will Figma sustain momentum like Circle and CoreWeave?
- Allocation of funds: Will IPO proceeds go toward debt reduction, acquisitions, or crypto?
- Post-IPO strategy: Keep an eye on M&A moves and deeper crypto integration plans.
