Figma files for IPO, plans listing on NYSE under ticker FIG
Figma files for IPO on NYSE under ticker 'FIG'Figma (FIGM.PVT), a cloud-based collaborative web design platform, has filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE). The company plans to trade under the ticker symbol 'FIG.'
Founded in 2012 by CEO Dylan Field, Figma offers real-time collaborative tools for interface design, prototyping, and feedback, targeting teams working on digital products. The company has not yet disclosed the number of shares it will offer or the expected IPO price range.
Also read: China's $50 billion chip fund switches tack to fight US curbs The most recent valuation for Figma came in a 2023 tender offer, which valued the company at $12.5 billion. In the company's S-1 filing and a letter to investors, Field addressed Figma's transition from a private to a public entity.
Field wrote, '...as a public company, investors should expect us to take big swings, including through acquisitions.' He also noted that Figma aims to counter the trend of strong tech companies remaining private indefinitely.Revenue and customer growth support IPO plansFigma's IPO filing comes amid continued revenue growth and increasing adoption among large enterprise customers. For the first quarter of 2025, Figma reported a 46 per cent year-over-year revenue increase.As of March 31, the company reported having more than 1,000 customers generating at least $100,000 in annual recurring revenue, marking a 47 per cent increase from the previous year.
These metrics suggest growing demand for cloud-based web design platforms and reinforce Figma's positioning in the enterprise SaaS market. The company competes with products from Adobe, Sketch, and other design software providers, leveraging browser-based collaboration as a key differentiator.
Top investment banks to lead IPO offering The IPO will be managed by a consortium of investment banks. Morgan Stanley, Goldman Sachs, Allen & Company, and JP Morgan will serve as joint lead book-running managers for the offering.
Also read: Apple eyes using AI to design its chips, technology executive says Figma's move to go public is closely watched by investors and market analysts, as it marks one of the more high-profile software IPOs in recent years.The company's public listing also comes after a previously proposed acquisition by Adobe was terminated due to regulatory concerns in 2023. This IPO provides Figma an alternate path to liquidity and continued growth.Figma's cloud-based collaborative design tools are widely used across sectors including tech, finance, and media, particularly by product design and engineering teams.
The IPO date and full financial details will be released in an amended S-1 filing closer to the offering.
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