Latest news with #EvanWallace
Bloomberg
20 hours ago
- Business
- Bloomberg
Figma CEO Field's Pay Package Includes a $2 Billion ‘Moon Shot'
Figma Inc.'s Dylan Field has already cemented a billion-dollar fortune with this week's planned initial public offering. But he could be looking at another 10-figure payday, thanks to a tranched compensation package similar to Elon Musk's. Field, 33, the design software company's co-founder, will own about 11% of San Francisco-based Figma. That's worth $1.6 billion at $30 a share, the low end of the price range signaled in a Monday filing, according to the Bloomberg Billionaires Index. He also controls all the votes for co-founder Evan Wallace's 27 million shares, worth about $800 million at that price.
Yahoo
7 days ago
- Business
- Yahoo
The Figma IPO Is Coming -- but Can It Justify Its Valuation?
Key Points IPOs have been hot this year, with most of the big ones generating strong returns in just a few months. Figma makes building design and user interface projects much more collaborative, and it plans to integrate many artificial intelligence tools. The company is targeting a valuation in the range of $13.6 billion to $16.5 billion fully diluted. These 10 stocks could mint the next wave of millionaires › Investors who have participated in initial public offerings (IPOs) like CoreWeave, Circle Internet Group, and Chime Financial have done quite well this year, which is why it's no surprise to see big hype around another incoming IPO, Figma. Positioned as the Google Sheets of the design and user interface world, Figma allows multiple people to collaborate on design projects, although the company has really morphed into a way for companies to turn ideas into software. Figma sees immense potential to integrate artificial intelligence into its business and even owns crypto as well. Figma is planning to IPO at a valuation in the range of $13.6 billion to $16.5 billion on a fully diluted basis. But does the company's exciting business justify this large valuation? A real game changer in design Brown University alums Dylan Field and Evan Wallace launched Figma in 2012, seeking a way to make the design process more collaborative from a technological perspective. They would eventually create a platform that allowed multiple people to work on design projects through the power of the web but also with high-quality graphics. Image source: Getty Images. As technology advanced, the platform did as well, particularly with the release of Dev Mode in 2023, which allowed designers to translate their concepts into code without changing the design file. This ultimately made it easier for designers and coders to work together. Products like this have gained traction, and today, Figma has 13 million unique monthly users, two-thirds of whom aren't designers. Roughly 95% of companies in the Fortune 500 use Figma, so the company is not reliant on a few core customers. Additionally, Figma sees immense potential to integrate more artificial intelligence (AI) tools into its business. Figma Make already lets users convert a conversational prompt into a working prototype in just minutes. The company believes it stands to benefit from the growth of AI, projecting that there will be 1 billion new apps in the world by 2028, many of which will come to Figma for their branding and user interface. Do the financials justify the valuation? The big question with all of these new and exciting IPOs is: Are they too hot out of the gate, or can their growth really justify the valuation? Figma is looking to raise $1 billion and list shares at $25 to $28, giving it a valuation of $13.6 billion at the high end of that range. However, Barron's estimates that the valuation could really be as high as $16.5 billion on a fully diluted basis.
Yahoo
21-07-2025
- Business
- Yahoo
Figma looks to raise nearly $1B as it kicks off its IPO roadshow
Enterprise design startup Figma has entered the next step of its IPO journey. Figma announced Monday it is kicking off its IPO roadshow. The company plans to offer more than 36 million shares of class A stock that are expected to be priced between $25 and $28 a share. This offering includes a mix of primary and secondary shares and would allow the company to raise around $1 billion. The company is expected to price its IPO the week of July 28. If the company prices its shares in the middle of its range, it will garner a market value of $15.9 billion, according to Renaissance Capital. That valuation is less than the $20 billion that Adobe offered to acquire Figma for in September 2022, but more than the company's last private valuation of $12.5 billion, according to PitchBook data. Figma initially filed its intent to go public back in April. The company was founded in 2012 by Dylan Field and Evan Wallace. To date, it's raised more than $740 million in venture capital from firms, including Andreessen Horowitz, General Catalyst, and Sequoia, and others.
TechCrunch
21-07-2025
- Business
- TechCrunch
Figma's Dylan Field will cash out about $60M in IPO, with Index, Kleiner, Greylock, Sequoia all selling, too
When Figma announced its initial hoped-for price range on Monday ($25-$28), it also revealed an unusual decision for its highly anticipated IPO. It will allow existing shareholders to sell more shares than the company plans to sell, by a high ratio. The company plans to offer about 12.5 million shares. Yet existing shareholders will be allowed to cash out of nearly 24.7 million shares, it said. In addition, should this IPO be as hot as everyone thinks it will be, existing shareholders will get the option to sell, collectively, up to 5.5 million more shares. Figma founder CEO Dylan Field has disclosed that he plans to sell 2.35 million shares. At the midrange he'll be cashing out of over $62 million. (That might be a much higher number if the IPO prices above $28, too.) Even with that sale, he will still own an enormous number of shares and control the company. He will hold 74% of the voting rights after the IPO. This is thanks to supervoting rights of 15 votes per share for the Class B stock he controls, plus the right to vote the Class B shares of his co-founder, Evan Wallace, the company says in its S-1. Figma's biggest venture investors are all cashing out some shares, as well, including Index, Greylock, Kleiner Perkins, and Sequoia. Should the demand be there for the over-allotment, they will cash out 1.7 million to 3.3 million shares apiece. That should allow them to return some cash to their investors in this liquidity-starved venture market. It should be noted, though, that each of these investors is keeping the lion's share of their Figma holdings. One way to interpret this largely secondary sale is that if the company hadn't opened up share sales to existing investors, it might not have had enough shares to meet the demand. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW As you might expect, the company will not make money from the shares its stockholders sell. But should it price above its announced range (as often happens with hot IPOs), Figma will raise more, as will its shareholders. Prior to pricing, IPO experts expected Figma to sell around $1.5 billion worth of stock. Should it price above range and exceed that, Figma would be the biggest IPO of 2025 to date. The IPO could happen next week, so we shall soon see. Figma declined further comment.
TechCrunch
21-07-2025
- Business
- TechCrunch
Figma looks to raise nearly $1 billion as it kicks off its IPO roadshow
In Brief Enterprise design startup Figma enters the next step of its IPO journey. Figma announced that it is kicking off its IPO roadshow on Monday. The company plans to offer more than 36 million shares of class A stock that are expected to be priced between $25 and $28 a share. This offering includes a mix of primary and secondary shares and would allow the company to raise around $1 billion. The company is expected to price its IPO the week of July 28. If the company prices its shares in the middle of its range, it will garner a market value of $15.9 billion, according to Renaissance Capital. That valuation is less than the $20 billion that Adobe offered to acquire Figma for in September 2022, but more than the company's last private valuation of $12.5 billion, according to PitchBook data. Figma initially filed its intent to go public back in April. The company was founded in 2012 by Dylan Field and Evan Wallace. To date, it's raised more than $740 million in venture capital from firms including Andreessen Horowitz, General Catalyst and Sequoia, and others. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW
