Figma Files IPO, Invests $69.5 Million in Bitcoin

Figma, a prominent cloud-based design platform headquartered in San Francisco, has formally initiated its initial public offering (IPO) by submitting its Form S-1 filing with the U.S. Securities and Exchange Commission (SEC). This move marks a significant milestone for the company, which has been steadily growing in the design software industry.

One of the most notable revelations from the filing is Figma's substantial investment in digital assets. As of March 31, 2025, the company holds approximately $69.5 million in spot Bitcoin ETF assets. This investment underscores Figma's strategic interest in cryptocurrency and its potential as a long-term asset. The company's board of directors has also approved a new $30 million BTC investment plan, decided on May 8, 2025. This plan involves purchasing an equivalent amount of USDC, which will then be converted into Bitcoin, further diversifying the company's investment portfolio.

Figma intends to list shares of its Class A common stock on the New York Stock Exchange (NYSE) under the symbol “FIG.” The company has organized its shares into three different classes: Class A with one vote per share, Class B with 15 voting rights per share (convertible), and Class C as non-voting shares with limited conversion rights. Post-IPO, the majority of voting rights will remain with the company’s CEO and co-founder Dylan Field, who will retain most of the voting power through proxy grants from co-founder Evan Wallace and the Wu-Wallace Family Foundation.

Figma's decision to invest in Bitcoin, despite acknowledging its volatility, indicates a strategic move to capitalize on the potential growth of the cryptocurrency and to hedge against market fluctuations. This revelation suggests that Figma is not only looking to diversify its investment portfolio but also to attract investors who are interested in both technology and cryptocurrency. The company's positive financial performance, with higher revenue and profit for the first three months of 2025, further bolsters confidence in its IPO.

In summary, Figma's IPO filing provides a comprehensive overview of the company's financial health and its strategic investments in Bitcoin. The company's decision to invest in cryptocurrency and its robust financial performance are likely to attract investors and position Figma as a leader in the technology industry. This move is expected to be one of the year's biggest initial public offerings, further solidifying Figma's position in the design software market.