Figma, Unicorn's software design, is confidently filed for an initial public offers more than one year after a $ 20 billion acquisition bid's Adobe fell Because of antitrust concerns.
Files suggest some optimism for public debuts despite the current market disturbance set by President Trump's push to implement tariffs. The uncertainty is raging in investors and sowing doubts about the closely adaptation of many IPOs.
Figma on Tuesday announced that it had submitted an IPO draft filing with the Securities and Exchange Commission, but the public did not release the entire document, which would usually provide financial details about its operations.
Figma appreciation ultimately looking at public markets will be something to watch. In 2021, in the midst of a low venture capital boom rate, Figma appreciated the series E for $ 10 billion. In 2024, Figma made a soft offer that appreciated the company for $ 12.5 billion.
VC's Backers of Figma include Kleiner Perkins, Sequoia Capital, Graylock, Index Ventures, Founders Fund, and much more.
Figma has about 1,600 employees and millions of users, including customers including AirbnB, Google, Microsoft, Netflix, Salesforce, Spotify, Square, Stripe, and Zoom. Business is also international, with 85% of its users outside the US
Public shared some financial details in May 2024, when The company told CNBC that has it $ 600 million in annual repetitive income. ARR is an important benchmark for many companies, as it measures the unpredictable income that is usually tied to long -term contracts and subscription -based revenues.
Figma, founded in 2012 by Dylan Field and Evan Wallace, has taken titles in recent years, both around high expectations when it will file for an IPO and how it will be a fare next to Adobe's downfall mega-acquisition. (Field and Wallace met while students at Brown University.)
In 2022, Adobe announced plans to obtain Figma, but faces severe regulatory investigations, including from the European Commission. In 2023, the two companies turned away from the deal, and Adobe paid Figma a $ 1 billion finishing fee.
This story was originally featured on Fortune.com
