Figma’s shares are expected to be negotiated on Thursday after the design and collaboration software company-along with some of its investors-raised $ 1.2 billion from one of the most anticipated initial public offers of the year in the United States.
Company and investors such as Index Ventures, Graylock Partners and Kleiner Perkins sold 36.9 million shares at $ 33 each. The papers had been initially priced between $ 30 and $ 32, high track earlier this week.
The placement price assigns Figma a market value of US $ 16.1 billion, based on the actions in circulation informed in the offer documents. Considering employee stock options and restricted stock units, the total diluted amount reaches about $ 18.5 billion – close to the US $ 20 billion that the company would have reached on the planned sale for Adobe Inc., which failed by 2023.
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According to Bloomberg News, demand for actions was almost 40 times higher than supply, a sign of strong interest in the first relevant IPO of software in the US since the Sailpoint Inc. premiere in February.
Figma is used to create interfaces of web and furniture applications, but has been expanding its portfolio to be more useful in software development and collaboration in corporate environments. Like many software companies, it charges the number of users and the type of license. In 2023, he added Dev Mode to bring developers closer to the design process and more recently incorporated artificial intelligence into various tools. This year, he launched Figma Make, which transforms text commands into functional prototypes.
The revenue of the first quarter grew 46% over the same period of the previous year.
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“Figma’s profitability – with a 92% adjusted gross margin – even surpasses more consolidated software companies, giving the company a wide flexibility to invest in new products and markets,” says Anurag Rana and Andrew Girard of Bloomberg Intelligent.
A key point for long-term success will be expanding the use of the platform beyond designers. The company’s tools already have good adhesion between developers, product managers and marketers, according to Andrew Reed, partner at Sequoia Capital and member of the Figma Council. Sequoia invested in the company for the first time in 2019, when the adoption of the tool began to accelerate.
Volume of IPOS in the USA grows
With Figma’s debut, the volume of initial US stock offerings in 2025 already total more than $ 21 billion (excluding financial vehicles such as SPACs), over US $ 20.2 billion captured in the same period of 2024, show Bloomberg data.
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Demand may have been driven by a process of collecting orders similar to an auction, in which investors indicated the amount of shares desired and the price they were willing to pay, according to a source close to the issue.
CEO and co -founder Dylan Field will maintain control of the company with 74.1% of the votes after IPO, through class B actions, which give 15 votes each. Field founded Figma in 2012 alongside Evan Wallace, when they both studied at Brown University. Field left the university after two and a half years to join Thiel Fellowship, a program funded by Peter Thiel that supports young entrepreneurs who abandon their studies. The browser -based interface has quickly conquered designers, replacing traditional methods of collaboration based on manual file shipping.
In the three months closed on March 31, Figma registered net profit of US $ 44.9 million and revenue of US $ 228 million. Despite revenue growth by 2024, the increase in operating expenses resulted in annual net loss of US $ 732 million.
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Adobe gave up the purchase after impasses with regulators, paying a $ 1 billion termination fine.
The offer was coordinated by Morgan Stanley, Goldman Sachs Group Inc., Allen & Co. and JPmorgan Chase & Co .. Figma’s actions are traded on the New York Stock Exchange under Ticker Fig.
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