Latest news with #Figma
Yahoo
an hour ago
- Business
- Yahoo
Figma Files for US IPO
Cloud-based design platform Figma has filed to go public in what could be one of the year's biggest initial public offerings. Bloomberg's Katie Roof discusses the plan with Caroline Hyde and Ed Ludlow on "Bloomberg Tech."
Kuwait Times
2 hours ago
- Business
- Kuwait Times
Jahez Application, KIC launch first Food Hackathon in Kuwait
KUWAIT: Jahez Application, a pioneering platform that connects customers with their favorite shops through online orders, officially launched the First Food Innovation Hackathon in Kuwait in strategic partnership with the Kuwait Innovation Center (KIC). This joint launch of a national-level Hackathon Program marks a significant step toward empowering young minds and nurturing innovation in Kuwait's food sector, aligning with the broader objectives of Kuwait Vision 2035. Following the signing of a Memorandum of Understanding (MoU) on June 25, 2025, Jahez Application and Kuwait Innovation Center (KIC) rolled out a 7-phase program designed to take participants from ideation to implementation. The hackathon is open to youth, students, developers, and creative thinkers across Kuwait, who are invited to bring forward transformative ideas that address real-world challenges in the food delivery industry through the use of AI and digital innovation. Registration for the hackathon officially opens on the 13th of July, with applications being filtered on a rolling basis. Selected participants will be announced during a formal confirmation phase, where teams will be onboarded and prepared for an intensive 3-day bootcamp scheduled for 6 to 8 August at the Kuwait Innovation Center. The bootcamp will feature skill-building workshops covering AI concepts, Figma interface design, business modeling, and innovation frameworks. Participants will also gain hands-on insights into the operations and technologies used by Jahez Application, enabling them to align their solutions with real industry needs. Finalists will showcase their prototypes and business plans to an expert panel during a live pitching and awards ceremony on 16th of August at Andalus Hall, marking the program's conclusion. The top three winning teams will receive cash prizes and recognition for their innovations: KD 3,000 for first place, KD 2,000 for second place, and KD 1,000 for third place. Top ideas will receive incubation support, mentorship, and possible implementation with Jahez Application, ensuring long-term impact and opportunities for continued growth beyond the event. Commenting on the launch, Abdulrahman Reda, Marketing Team Lead at Jahez Application, said, 'This hackathon is a celebration of youth, innovation and the spirit of entrepreneurship in Kuwait. Together with KIC, we are proud to create a platform where aspiring minds can reimagine the future of food delivery, develop bold solutions, and gain the support needed to bring those ideas to life.' Reda added, 'At Jahez, we believe in empowering young talent through real opportunity. With this initiative, we aim to nurture creativity, drive practical change and create lasting value for our sector's future.' Through an inclusive promotional campaign supported by PR outreach and active engagement with local communities and creative networks, Jahez Application and KIC aim to attract a diverse pool of participants. The hackathon is designed not only to serve as a launchpad for innovative solutions but also as a hands-on learning experience driven by mentorship, collaboration and real-world problem-solving. Jahez Application and KIC invite anyone interested to stay tuned to their official channels for registration details and updates, as they gear up to support the next generation of food tech innovators in Kuwait. Jahez-Kuwait is a subsidiary of Jahez International Company KSA, one of the largest food delivery companies in Saudi Arabia. Founded in 2016, Jahez was quick to gain traction in the food delivery industry in Saudi Arabia, emerging as a prominent player with over 1.3 million active users and over 34,000 delivery partners across Saudi Arabia as of March 31, 2021. In 2022, Jahez entered the Kuwaiti market while simultaneously launching its Bahrain operation during the same year.
Arabian Post
8 hours ago
- Business
- Arabian Post
Figma Joins IPO Wave with $70 Million Bitcoin Treasury Move
Figma has filed its S‑1 registration to go public on the New York Stock Exchange under the ticker 'FIG', and disclosed holdings of approximately $69.5 million in a spot Bitcoin ETF as of 31 March 2025. The filing also confirms that the board approved allocating $30 million in USDC for later conversion into Bitcoin, signalling a strategic embrace of digital assets. Financial disclosures reveal robust growth for the design‑collaboration platform, with Q1 2025 revenue surging to $228.2 million—marking a 46 per cent increase year‑on‑year—and net income tripling to $44.9 million. For the full year 2024, revenue reached $749 million, although a net loss of $732 million was recorded, compared to a $738 million net income in 2023. The company attributes the swing to one‑off charges and substantial investments in artificial intelligence, areas identified as core to its long‑term strategy. The Bitcoin holdings stem from a board‑approved $55 million investment in a Bitwise Bitcoin ETF on 3 March 2024, which has appreciated roughly 27 per cent to $69.5 million. The additional $30 million USDC allocation was approved on 8 May 2025 to facilitate further Bitcoin purchases, highlighting a phased approach to crypto acquisition. Figma's investment approach positions Bitcoin alongside money‑market instruments, Treasuries and corporate bonds, comprising around 4 per cent of its $1.07 billion cash and equivalents as of 31 March 2025. ADVERTISEMENT The IPO comes more than a year after regulators in the UK and EU blocked Adobe's proposed $20 billion acquisition of Figma in late 2023. That deal's collapse redirected the company toward strengthening its independent market position. Referral to Morgan Stanley, Goldman Sachs, J.P. Morgan and Allen & Co as lead underwriters underscores the prominence of the offering. Figma's embrace of Bitcoin reflects a growing trend among public and pre‑public tech firms deploying crypto assets as part of corporate treasury strategies. Firms such as Coinbase, Circle and MicroStrategy have drawn attention for similar moves, with some recording sharp stock gains driven by their crypto exposure. Analysts caution that such positions expose companies to the volatility of digital assets, though fairness accounting treatment under US GAAP ensures unrealised ETF gains flow through other comprehensive income, not immediate profit and loss. AI remains a central strategic pillar. CEO Dylan Field underscored in the filing that Figma intends to double down on AI investments, even if it affects short‑term efficiency, describing such outlays as essential to evolving design workflows. The platform, used by 95 per cent of Fortune 500 companies and 78 per cent of the Forbes 2000, has expanded its offerings—from website‑building and digital illustration to AI‑assisted coding and enhanced marketing tools. The IPO filing indicates Figma will use proceeds to repay debt, fund working capital needs and pursue acquisitions—while retaining dual‑class share structures aimed at preserving founder control. This structure assigns Class A one‑vote shares to public investors, while Class B and C shares—with greater voting power—remain with the founders through proxy agreements, ensuring strategic continuity. Figma's dual‑track strategy—combining IPO ambitions with a diversified digital‑asset treasury—positions it at the intersection of mainstream tech capital markets and crypto innovation. The move may draw investor interest from those seeking exposure to design‑tech growth and blockchain‑linked assets under a unified corporate strategy.
Time of India
11 hours ago
- Business
- Time of India
Figma's much-anticipated IPO: All you need to know
Academy Empower your mind, elevate your skills Cloud-based designer platform Figma has publicly disclosed the prospectus of its much- anticipated initial public offering (IPO) in the US. The company had filed its papers confidentially in issue will be one of the most high-profile listings this year, suggesting that anxieties stemming from US tariffs are calming IPO comes over a year after Figma's $20 billion deal to be acquired by Adobe was shelved by all you need to know about Figma and its public specialises in collaborative interface design, enabling teams to work together in real time on design projects, much like Google at around $12.5 billion, the company has expanded its offerings beyond design to include tools for website creation, AI programming, branded marketing, and digital in San Francisco, Figma was founded by Dylan Field and Evan Wallace in 2012. Duolingo, Mercado Libre, Netflix, Pentagram Design, ServiceNow, and Stripe are among its major global customers. Indian brands Zomato Swiggy , Cred and Groww also use its platform. Field had told ET last November that Figma is keen on tapping India's vast pool of designers and product developers to better support its customers. He had said around 85% of Figma's weekly active users are from outside the US, and a substantial number are from India.'There is a real revenue opportunity in India. It is a myth that you cannot monetise India,' Field had said then, adding that as Figma spends more time in India, it will be able to find areas to improve its services 2022, Photoshop maker Adobe announced plans to acquire Figma for $20 billion. However, last year, the two companies jointly declared the termination of the deal following scrutiny from UK and EU regulators on antitrust issues. Adobe was obligated to pay Figma a reverse termination fee of $1 billion in the aftermath of the Adobe deal fallout, Figma worked on strengthening its books. In the first three months of 2025, it reported $228.2 million in revenue, compared with $156.2 million a year earlier, and its net income jumped threefold to $44.9 2024, it had generated $749 million in revenue, a 48% increase from company was profitable in 2023 but reported a large net loss of $732 million in 2024, because of a one-time expense related to issuing 10.5 million stock options to employees. Profit returned in the fourth quarter of 2024, and continued this has raised around $750 million in funding so far from investors such as Sequoia Capital and Andreessen company plans to list on the New York Stock Exchange (NYSE) under the ticker symbol "FIG".Lead banks for the IPO include Morgan Stanley, Goldman Sachs, Allen & Co, and JP company said it will use the IPO proceeds to fund growth initiatives, double down on AI investments, and repay debt.
Yahoo
11 hours ago
- Business
- Yahoo
Design platform Figma files for U.S. IPO
-- Cloud-based collaborative web design platform Figma filed for an initial public offering in the United States on Tuesday. The company plans to list on the New York Stock Exchange under the ticker symbol "FIG". Figma didn't disclose the proposed sizing or pricing range for the offering. According to the filing, the company had revenue of $228.2 million for the three months ended March 31, with a net income of $44.9 million during the same period. Morgan Stanley, Goldman Sachs, Allen & Co and J.P. Morgan are serving as the lead underwriters for the IPO. Additional underwriters include BofA Securities, Wells Fargo Securities, RBC Capital Markets, William Blair, and Wolfe | Nomura Alliance. This IPO filing comes more than a year after Adobe (NASDAQ:ADBE) abandoned its $20 billion acquisition of Figma due to regulatory challenges in Europe and the United Kingdom. Related articles Design platform Figma files for U.S. IPO Barclays begins coverage on six U.S. shopping center REITs, rates 2 stocks Buy Centene stock tumbles after withdrawal of 2025 guidance
