Latest news with #Adobe

The Hindu
5 hours ago
- Business
- The Hindu
Figma aims at $16.4 billion valuation as tech IPOs bounce back
Figma is targeting a fully-diluted valuation of up to $16.4 billion in its initial public offering, as the cloud-based design software firm prepares for a debut on the NYSE that could inject fresh momentum into a resurgent market for tech listings. The San Francisco-based company, along with some investors, is eyeing proceeds of up to $1.03 billion by selling nearly 37 million shares priced between $25 and $28 each, it said on Monday. The listing could be a major milestone for Figma, coming more than a year after its $20 billion sale to Adobe failed due to regulatory hurdles in Europe and the UK. An equities rally and a bunch of strong debuts recently have helped remove the IPO market overhang. Figma is expected to start trading close on the heels of stablecoin giant Circle , which debuted with eye-popping gains last month and has continued surging since. As a major technology player that appears supportive of bitcoin, Figma has already drawn attention on social media. The company had around $70 million invested in Bitwise's bitcoin exchange-traded fund as of March 31 and intends to allocate a further $30 million to bitcoin, its filing showed. Figma expects to list under the symbol "FIG". Morgan Stanley, Goldman Sachs, Allen & Co and J.P. Morgan are among the underwriters for the offering. It was valued at $12.5 billion in a tender offer last year that allowed employees and early investors to cash out a portion of their stake. Figma is a cloud-based design platform that allows users to collaboratively create and edit apps, websites and software interfaces. Its customers include ServiceNow, Workday and SAP. Its revenue rose 46% in the first three months of 2025, while net income jumped three-fold. "Figma's product is its primary marketing engine. Its collaborative nature fosters viral, bottoms-up adoption, leading to a best-in-class sales efficiency," said Tomasz Tunguz, founder of venture capital firm Theory Ventures. The company has also signaled it may take "big swings" with M&A, with co-founder and CEO Dylan Field saying it is prepared to "make decisions that may not seem immediately rational." Still, the listing will take place at a time when the industry landscape is shifting. While Figma is sharpening its focus on AI, it has also warned that design tools driven by the technology could make some customers less reliant on its platform. The company has noted that restrictive immigration policies could impact its ability to recruit talent, citing past adjustments to hiring practices due to changes in visa assessment frameworks. A majority of its revenue in 2024 came from outside the United States, exposing it to potential demand softness if international clients tighten their purse strings in response to tariffs. Renewed trade tensions could also add to the caution among IPO investors, risking further disruption. Against this backdrop, investor attention remains firmly on companies with solid fundamentals and a clear path to profitability, said Leslie Marlow, a corporate attorney at Blank Rome.
Yahoo
16 hours ago
- 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.


Fast Company
16 hours ago
- Business
- Fast Company
Figma targets $16.4 billion valuation in IPO
Figma is targeting a fully-diluted valuation of up to $16.4 billion in its initial public offering, as the cloud-based design software firm prepares for a debut on the NYSE that could inject fresh momentum into a resurgent market for tech listings. The San Francisco-based company, along with some investors, is eyeing proceeds of up to $1.03 billion by selling nearly 37 million shares priced between $25 and $28 each, it said on Monday. The listing could be a major milestone for Figma, coming more than a year after its $20 billion sale to Adobe failed due to regulatory hurdles in Europe and the UK. An equities rally and a bunch of strong debuts recently have helped remove the IPO market overhang. Figma is expected to start trading close on the heels of stablecoin giant Circle, which debuted with eye-popping gains last month and has continued surging since. As a major technology player that appears supportive of bitcoin, Figma has already drawn attention on social media. The company had around $70 million invested in Bitwise's bitcoin exchange-traded fund as of March 31 and intends to allocate a further $30 million to bitcoin, its filing showed. Figma expects to list under the symbol 'FIG'. Morgan Stanley, Goldman Sachs, Allen & Co and J.P. Morgan are among the underwriters for the offering. It was valued at $12.5 billion in a tender offer last year that allowed employees and early investors to cash out a portion of their stake. 'Big swings' Figma is a cloud-based design platform that allows users to collaboratively create and edit apps, websites and software interfaces. Its customers include ServiceNow, Workday and SAP. Its revenue rose 46% in the first three months of 2025, while net income jumped three-fold. 'Figma's product is its primary marketing engine. Its collaborative nature fosters viral, bottoms-up adoption, leading to a best-in-class sales efficiency,' said Tomasz Tunguz, founder of venture capital firm Theory Ventures. The company has also signaled it may take 'big swings' with M&A, with co-founder and CEO Dylan Field saying it is prepared to 'make decisions that may not seem immediately rational.' Still, the listing will take place at a time when the industry landscape is shifting. While Figma is sharpening its focus on AI, it has also warned that design tools driven by the technology could make some customers less reliant on its platform. The company has noted that restrictive immigration policies could impact its ability to recruit talent, citing past adjustments to hiring practices due to changes in visa assessment frameworks. A majority of its revenue in 2024 came from outside the United States, exposing it to potential demand softness if international clients tighten their purse strings in response to tariffs. Renewed trade tensions could also add to the caution among IPO investors, risking further disruption.


CNBC
18 hours ago
- Business
- CNBC
Figma IPO could value design software maker at $16 billion
Design software company Figma on Monday published an updated prospectus for its initial public offering. The company said it expects to sell about 37 million shares at $25 to $28 each. That would generate as much as $1 billion in proceeds, between the company and selling shareholders. The IPO could value Figma, led by co-founder Dylan Field, a fully diluted valuation of $14.6 billion to $16.4 billion. Field plans to sell 2.35 million shares, which could be worth as much as $65.8 million. In a 2024 tender offer, investors valued the company at $12.5 billion. In 2022, Adobe had agreed to acquire Figma for $20 billion, but the deal was scrapped after regulators objected. The flow of technology companies joining U.S. exchanges has slowed since late 2021. Concerns over inflation and a recession made some investors less interested in backing fast-growing but money-losing companies. But a few technology stocks have become available in recent months. CoreWeave went public in March, and Circle and Chime shares started trading in June. Figma filed to go public on July 1, announcing plans to trade on the New York Stock Exchange under the symbol "FIG." On Monday, it provided preliminary results for the second quarter, showing $9.0 million to $12.0 million in operating income on $247 million to $250 million in revenue. That would imply year-over-year revenue growth of 39% at the low end and 41% at the high end. Growth in the first quarter exceeded 46%. During the second quarter, Figma added clients and expanded business with existing ones. The company's operating margin would be ticking up to 4% to 5%, up from 3% in the same quarter a year ago, based on the preliminary results. Figma said it has authorized the issuance of "blockchain common stock" in the form of "blockchain-based tokens." So far, though, Figma said it isn't planning to issue this type of stock. In July, Figma disclosed investments in a stablecoin and a Bitcoin exchange-traded fund. Mike Krieger, a co-founder of Instagram who is now chief product officer of artificial intelligence model developer Anthropic, has joined the board. Luis von Ahn, co-founder and CEO of Duolingo, is also joining the board, according to the filing.


CTV News
20 hours ago
- Business
- CTV News
Figma aims at US$16.4 billion valuation as tech IPOs bounce back
From major corporate headquarters like Uber, Salesforce and Levi Strauss, San Francisco's global ranking reflects a robust economy that benefits from having a large tech sector, researchers suggest. The city has generates an annual GDP of $835 billion USD, but suffers when it comes to lower income stability, high crimes rates and high housing expenditures. (AP Photo/Eric Risberg) Figma is targeting a fully-diluted valuation of up to US$16.4 billion in its initial public offering, as the cloud-based design software firm prepares for a debut on the NYSE that could inject fresh momentum into a resurgent market for tech listings. The San Francisco-based company, along with some investors, is eyeing proceeds of up to $1.03 billion by selling nearly 37 million shares priced between $25 and $28 each, it said on Monday. The listing could be a major milestone for Figma, coming more than a year after its $20 billion sale to Adobe ADBE.O failed due to regulatory hurdles in Europe and the U.K. An equities rally and a bunch of strong debuts recently have helped remove the IPO market overhang. Figma is expected to start trading close on the heels of stablecoin giant Circle CRCL.N, which debuted with eye-popping gains last month and has continued surging since. As a major technology player that appears supportive of bitcoin, Figma has already drawn attention on social media. The company had around $70 million invested in Bitwise's bitcoin exchange-traded fund as of March 31 and intends to allocate a further $30 million to bitcoin, its filing showed. Figma expects to list under the symbol 'FIG.' Morgan Stanley, Goldman Sachs, Allen & Co and J.P. Morgan are among the underwriters for the offering. It was valued at $12.5 billion in a tender offer last year that allowed employees and early investors to cash out a portion of their stake. 'Big swings' Figma is a cloud-based design platform that allows users to collaboratively create and edit apps, websites and software interfaces. Its customers include ServiceNow NOW.N, Workday WDAY.O and SAP Its revenue rose 46% in the first three months of 2025, while net income jumped three-fold. 'Figma's product is its primary marketing engine. Its collaborative nature fosters viral, bottoms-up adoption, leading to a best-in-class sales efficiency,' said Tomasz Tunguz, founder of venture capital firm Theory Ventures. The company has also signaled it may take 'big swings' with M&A, with co-founder and CEO Dylan Field saying it is prepared to 'make decisions that may not seem immediately rational.' Still, the listing will take place at a time when the industry landscape is shifting. While Figma is sharpening its focus on AI, it has also warned that design tools driven by the technology could make some customers less reliant on its platform. The company has noted that restrictive immigration policies could impact its ability to recruit talent, citing past adjustments to hiring practices due to changes in visa assessment frameworks. A majority of its revenue in 2024 came from outside the United States, exposing it to potential demand softness if international clients tighten their purse strings in response to tariffs. Renewed trade tensions could also add to the caution among IPO investors, risking further disruption. Against this backdrop, investor attention remains firmly on companies with solid fundamentals and a clear path to profitability, said Leslie Marlow, a corporate attorney at Blank Rome. (Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber)