Figma IPO launch: Stock aims for $16.4 Billion valuation in NYSE debut, signals tech listing comeback
Cloud-based design platform Figma is aiming for a valuation of up to $16.4 billion in its upcoming initial public offering (IPO) for its debut at New York Stock Exchange.
The San Francisco-headquartered firm, along with existing investors, plans to raise as much as $1.03 billion by offering nearly 37 million shares, priced in the range of $25 to $28 each.
The listing is expected to add momentum to a gradually reviving market for tech IPOs, reported news agency Reuters.
The upcoming listing could mark complete contrast for Figma, coming over a year after its proposed $20 billion acquisition by Adobe collapsed due to regulatory roadblocks in the UK and Europe.
Big decisions on card
Figma is a cloud-based design platform that enables users to collaborate - create and edit apps, websites, and software interfaces.
Its client base includes major companies such as ServiceNow, Workday, and SAP.
The company reported a 46% increase in revenue in the first quarter of 2025, while net income tripled over the same period, reported Reuters.
Figma has indicated a willingness to pursue bold acquisitions, with co-founder and CEO Dylan Field stating the company is ready to "make decisions that may not seem immediately rational."
Investor confidence fuels tech IPOs
A strong equities rally and a wave of successful tech IPOs have helped lift investor sentiment, clearing the overhang in the market.
Figma's debut is expected shortly after the blockbuster listing of stablecoin issuer Circle, which surged on debut and has continued its upward run.
Figma plans to debut on the stock market under the symbol 'FIG.' Leading investment banks including Morgan Stanley, Goldman Sachs, Allen & Co, and JP Morgan are serving as underwriters for the offering, according to Reuters.
Last year during a tender offer the company was valued at $12.5 billion that enabled employees and early investors to sell a portion of their shares.
The design software firm has also garnered attention for its crypto exposure. As per its filing, Figma held around $70 million in Bitwise's bitcoin exchange-traded fund as of March 31 and plans to invest an additional $30 million in the digital asset.
Potential challenges
However, the IPO comes amid a shifting industry landscape. While Figma is increasing its focus on AI, it has also cautioned that AI-powered design tools could reduce customer dependence on its platform.
The company also flagged potential challenges in talent acquisition due to restrictive immigration policies. It pointed out that it has previously adjusted hiring strategies in response to visa framework changes.
With the majority of its last fiscal revenue coming from international markets, the company remains vulnerable to potential demand slowdowns if global clients cut back on spending due to tariffs.
Renewed trade tensions may heighten caution among IPO investors, potentially causing further market disruptions.
In this environment, investor focus is firmly on companies with strong fundamentals and a clear route to profitability, said Leslie Marlow, corporate attorney at Blank Rome.
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