Figma Targets $16.4 Billion IPO
Analysis based on 6 articles · First reported Jul 21, 2025 · Last updated Jul 22, 2025
Figma's IPO is expected to inject fresh momentum into the tech listings market, following a period of recovery and successful debuts by other companies like Circle Internet Group. The offering will provide a new investment opportunity in the cloud-based design software sector, with potential implications for the broader technology and financial markets.
Figma, a cloud-based design software firm, is preparing for its initial public offering on the New York Stock Exchange, targeting a fully-diluted valuation of up to $16.4 billion. The company, along with some investors, aims to raise up to $1.03 billion by selling nearly 37 million shares priced between $25 and $28 each. This IPO follows the termination of a $20 billion acquisition by Adobe Inc. due to regulatory hurdles. Figma has shown strong financial performance, with revenue rising 46% and net income jumping three-fold in the first three months of 2025. The company has also drawn attention for its pro-Bitcoin stance, having invested $70 million in Bitwise Asset Management's bitcoin exchange-traded fund and planning to allocate a further $30 million to Bitcoin. Morgan Stanley, Goldman Sachs, Allen & Co, and JPMorgan Chase are among the underwriters for the offering. The listing is expected to energize the recovering tech IPO market, but Figma has also noted potential challenges such as the impact of AI-driven design tools on customer reliance, restrictive immigration policies affecting talent acquisition, and potential demand softness from international clients due to tariffs.
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