Figma, the cloud-based collaborative design platform, has filed for a high-profile Figma IPO with a proposed price range of $25 to $28 per share, aiming to raise nearly $1 billion. This offering includes approximately 37 million shares, with around 12.5 million coming from the company and the remainder from key stakeholders such as CEO Dylan Field, Sequoia Capital, Greylock Partners, Index Ventures, and Kleiner Perkins.
At the top of the range, Figma’s market capitalization would stand at roughly $13.6 billion, and its fully diluted valuation could reach $16.5 billion, marking one of the most significant tech IPOs of 2025. Although the figure falls short of the $20 billion price tag Adobe had once agreed to pay before the acquisition deal was terminated, it still represents a substantial comeback for the company.
Figma will trade under the ticker “FIG” on the New York Stock Exchange, with major underwriting support from Morgan Stanley, Goldman Sachs, Allen & Co., and JPMorgan.
Business Momentum and Financial Highlights
Founded in 2012, Figma has become a dominant force in product design and collaboration, boasting 13 million monthly active users, including a significant portion of the Fortune 500. The company reported 46% year-over-year revenue growth in Q1 2025, with net income nearly tripling compared to last year, demonstrating robust financial health leading into the Figma IPO.
Figma is among the few tech IPO hopefuls making headlines for its crypto exposure. The company disclosed it holds about $70 million in Bitcoin ETFs and recently converted $30 million in stablecoins (USDC) into Bitcoin, suggesting a long-term interest in blockchain-based asset diversification. This unconventional investment strategy adds a unique layer to Figma’s financial profile.
On the product side, Figma continues to innovate aggressively. At its 2025 Config conference, it unveiled a suite of AI-powered tools—Figma Sites, Make, Buzz, and Draw—geared toward automating design tasks and improving collaboration. These offerings reaffirm Figma’s ambition to lead in the intersection of design, AI, and productivity.
Strategic Context and Future Outlook
Figma IPO is a time of renewed momentum in the U.S. tech markets. Following a slowdown driven by rising interest rates and global uncertainties, the IPO signals a broader revival in venture-backed tech listings. In Q2 2025 alone, U.S. venture exits surged to $67.7 billion, the highest level since late 2021.
The IPO also symbolizes Figma’s clean break from its failed acquisition by Adobe. In 2022, Adobe had agreed to acquire Figma for $20 billion, but the deal collapsed in late 2023 due to regulatory hurdles in the EU and UK. Figma received a $1 billion breakup fee and subsequently focused on strengthening its independent growth path.
Looking ahead, CEO Dylan Field will retain long-term control through super-voting shares, ensuring continuity in vision and leadership. With aggressive AI development, deep enterprise adoption, and a strong capital position post-Figma IPO, the company is poised to scale globally and potentially eye future acquisitions as part of its expansion playbook.
The Figma IPO marks more than a financial milestone—it signals a resurgence in the tech IPO landscape. With solid fundamentals, strategic crypto holdings, and a bold AI roadmap, Figma enters the public markets with momentum and ambition, ready to shape the next chapter of collaborative design.
