Figma goes public with $1.2B IPO, valued at $19.3B Design software company Figma debuted on the New York Stock Exchange today, raising $1.2 billion in an initial public offering that values the firm at $19.3 billion. The company priced its shares at $33 each, exceeding its previously announced range of $30 to $32 per share. The IPO represents one of the most anticipated technology listings of 2025, with investor demand reaching extraordinary levels. According to Bloomberg, the offering was approximately 40 times oversubscribed. Figma sold 12.47 million new shares to raise $411.7 million, while existing shareholders sold 24.46 million shares for $807.3 million. Strong Financial Performance Drives Investor Interest Figma's public debut comes amid robust financial growth that has captured Wall Street's attention. The San Francisco-based company reported revenue of $228.2 million for the quarter ended March 31, representing a 46% year-over-year increase. Net income jumped threefold to $44.9 million in the same period. The company serves 13 million monthly active users and counts 95% of Fortune 500 companies as customers. With gross margins above 91%, Figma has demonstrated the scalability that public market investors seek in software-as-a-service companies. "Figma stands out even among recent high-growth software IPOs like Circle and CoreWeave," Derek Hernandez, a senior analyst at PitchBook Data, told Fortune. "Figma has both scale and earnings and is a prime example of a high-growth, VC-backed company with a strong narrative that the market is eager for". From Adobe Deal to Independence The IPO marks a dramatic turnaround from Figma's near-acquisition by Adobe for $20 billion in 2022. That deal collapsed in December 2023 after facing regulatory scrutiny in Europe and the UK over antitrust concerns. Adobe paid Figma a $1 billion breakup fee, which strengthened the company's balance sheet ahead of going public. Co-founder and CEO Dylan Field, who retains significant voting control over the company, told CNBC that the failed merger ultimately benefited Figma's development. "At some point, we're going to be a public company. And the question is, well, why not now?" Field said in a television interview today. The IPO signals renewed confidence in the technology sector's public market appetite. Renaissance Capital reports that 120 IPOs have priced this year through July 30, a 46% increase from the previous year. Market observers view Figma's reception as a potential bellwether for other venture-backed software companies considering public listings, including Canva, Databricks, and Netskope.
