Figma Seeks $16.4 Billion Valuation in IPO, Aiming for Fresh Momentum in Tech Listings Market

Figma is targeting a valuation of up to $16.4 billion in its IPO, aiming to raise $1.03 billion by selling nearly 37 million shares priced between $25 and $28 each. The cloud-based design software firm plans to list on the NYSE, potentially injecting momentum into the tech IPO market. Figma's revenue rose 46% in Q1 2025, and the company has signaled it may take "big swings" with M&A, including the potential acquisition of other design tool companies.

San Francisco-based design and product development software company Figma Inc. is set to make a significant splash in the tech IPO market with its planned initial public offering (IPO). The company has priced its IPO between $25 and $28 per share, aiming to raise approximately $1.03 billion by selling nearly 37 million shares. This valuation would place Figma's market capitalization at $16.4 billion, according to a recent filing [2].

Figma's IPO comes after a string of successful tech IPOs this year, including Circle Internet Group Inc., CoreWeave Inc., and Chime Financial Inc. The company's business model of subscriptions from 13 million monthly users as a tool for online commerce and branding has been a key driver of its growth. Figma's stock is expected to trade under the symbol "FIG" on the Nasdaq [2].

One of the notable aspects of Figma's IPO is its investment in cryptocurrencies. The company has disclosed a $69.5 million investment in a bitcoin exchange-traded fund as of March 31, and a subsequent $30 million investment in bitcoin in May 2025 [2]. This strategy is similar to that employed by business-software company MicroStrategy Inc. [2].

Figma's revenue growth has been impressive. The company reported a 46% increase in revenue in Q1 2025, with net income of $44.88 million on revenue of $228.2 million. The company also reported a net loss of $732.1 million and revenue of $749 million for full year 2024 [2].

The IPO comes less than two years after Figma agreed to scrap its acquisition by Adobe Inc. for $20 billion. Figma's co-founder and Chief Executive Dylan Field, along with other selling shareholders, will see significant proceeds from the IPO [2].

Figma's IPO is expected to go public in the next two to three weeks, with lead underwriters including Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan. The company's ambitious growth plans include the potential acquisition of other design tool companies, signaling a potential "big swing" in mergers and acquisitions (M&A) [2].

References:
[1] https://www.reddit.com/r/stocks/comments/1m5nyfv/figmas_ipo_priced_between_25_to_28/
[2] https://www.marketwatch.com/story/figmas-ipo-seeks-a-13-billion-valuation-with-a-bitcoin-investment-as-a-sweetener-d8f96d28