Figma files for an IPO
It previously had filed confidentially.
Why it matters: Figma becomes the first U.S. unicorn in line for what's expected to be a large group of post-Labor Day IPOs, although it technically could price before then.
By the numbers: Figma reports a $732 million net loss in 2024 on $749 million of revenue, versus $738 million of net income in 2023 on $505 million of revenue.
The 2024 loss is explained by a one-time charge tied to a May 2024 stock tender offer, while its 2023 gain was boosted by a $1 billion termination fee from Adobe.
Its Q1 financials are $45 million of net income on $205 million in revenue.
Top shareholders include Index Ventures (16.8% pre-IPO stake), Greylock (15.7%), Kleiner Perkins (14%), and Sequoia Capital (8.7%).
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