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Figma Targets Up to $16.4 B Valuation in Blockbuster NYSE IPO

Prime Highlights

  • Figma to raise over $1 billion in IPO with valuation target of $16.4 billion.
  • IPO comes after a spurned $20B Adobe offer and on the heels of 46% first-quarter revenue growth.

Key Facts

  • Approximately 37 million shares will be sold at $25–28 per share on the NYSE under the ticker “FIG”.
  • The firm has already invested $70 million in a Bitcoin ETF and will continue to invest in cryptocurrency.

Key Background

Figma, the leading cloud-based collaborative design platform, is going public with a daring goal—a fully diluted valuation of $16.4 billion. The firm will offer around 37 million shares, between $25 and $28 each, raising up to $1.03 billion in proceeds. This comes following the collapsed $20 billion acquisition by Adobe that went south in 2023 due to antitrust issues and now Figma is forging its own destiny on its own within the public markets.

Supported by marquee investors such as Sequoia Capital, Andreessen Horowitz, and Greylock, Figma has shown strong financial performance. Its revenue in the first quarter of 2025 has jumped 46%, while net profit has more than doubled year-on-year. Figma has big enterprise clients such as SAP, ServiceNow, and Workday in its customer base, indicating strong commercial momentum. The upcoming IPO is not just a milestone for Figma but also a badge of revival for the larger tech IPO market.

In a move unlike few others, Figma has also ventured into cryptocurrency. It has invested $70 million in a Bitcoin ETF and will be adding another $30 million worth of cryptoassets. This unusual financial maneuver has caught the attention of both conventional traders and investor-tech savvy players as well, lending additional mystery to its public listing. The company even spoke about issuing “blockchain common stock” at some point.

There are risks potential. AI-based design software expansion could put Figma’s niche out of business, and global economic headwinds and immigration policy changes may impact business operations and talent acquisition. CEO Dylan Field has set an aggressive growth plan with potential merger and acquisition activity in the future. Investors will be watching to see how Figma navigates innovation, risk, and profitability as it enters public life in a new form.

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