Figma Targets USD 16.4 Billion Valuation in NYSE Debut Amid Tech IPO Revival
- tech360.tv
- 1 day ago
- 2 min read
Figma is aiming for a fully diluted valuation of up to USD 16.4 billion in its initial public offering, as the cloud-based design software firm prepares to list on the New York Stock Exchange.
The San Francisco-based company and some investors plan to raise up to USD 1.03 billion by offering nearly 37 million shares priced between USD 25 and USD 28 each.
The IPO follows the collapse of Figma’s proposed USD 20 billion sale to Adobe, which was blocked by regulators in Europe and the United Kingdom.
Figma’s listing comes amid renewed momentum in the tech IPO market, following strong debuts from firms like stablecoin operator Circle, which has seen continued gains since its launch.
The company is expected to trade under the symbol “FIG.” Morgan Stanley, Goldman Sachs, Allen & Co, and J.P. Morgan are among the underwriters for the offering.
Figma was valued at USD 12.5 billion in a 2024 tender offer that allowed employees and early investors to sell part of their holdings.
The company had about USD 70 million invested in Bitwise’s bitcoin exchange-traded fund as of March 31 and plans to allocate an additional USD 30 million to bitcoin, according to its filing.
Figma’s platform allows users to collaboratively design apps, websites, and software interfaces. Its clients include ServiceNow, Workday, and SAP.
Revenue rose 46% in the first quarter of 2025, while net income tripled during the same period.
Co-founder and CEO Dylan Field said the company is open to bold moves in mergers and acquisitions, even if they may not appear immediately rational.
Figma is also focusing on artificial intelligence, though it has warned that AI-driven design tools could reduce customer reliance on its platform.
The company cited restrictive immigration policies as a potential challenge to hiring, noting past changes to recruitment due to visa framework adjustments.
A majority of Figma’s 2024 revenue came from outside the United States, leaving it vulnerable to international demand shifts and trade tensions.
Corporate attorney Leslie Marlow said investors remain focused on companies with strong fundamentals and a clear path to profitability.
Figma targets SGD 22.2 billion valuation in NYSE IPO
Plans to raise SGD 1.4 billion by selling nearly 37 million shares
Revenue rose 46% in Q1 2025; net income tripled
Source: REUTERS