Figma, a trailblazer in collaborative design software, is poised for one of 2025’s most anticipated initial public offerings (IPOs). This pivotal moment marks Figma’s transition from a privately funded startup to a publicly traded tech powerhouse, capturing the attention of investors, designers, and technology enthusiasts worldwide. Here’s a detailed exploration of Figma’s IPO, its financials, strategic context, and what sets it apart in the crowded tech market.
Figma IPO Overview
Figma has officially launched its IPO roadshow, signaling its imminent debut on the New York Stock Exchange under the ticker symbol “FIG”. The company plans to offer over 36 million shares—a mix of new (primary) and existing (secondary) shares—at a targeted price range of $25 to $28 per share. The IPO is expected to raise close to $1 billion, potentially valuing Figma between $13 billion and $16.4 billion depending on final pricing.
Share Structure and Major Stakeholders
- Figma itself will issue 12.5 million shares of Class A common stock.
- Existing stockholders (including early investors and founders) will sell nearly 24.7 million additional shares, far exceeding the company’s direct issuance.
- An over-allotment option allows for the sale of another 5.5 million shares if demand is strong.
CEO and co-founder Dylan Field will personally sell 2.35 million shares, potentially netting him over $60 million at the midpoint price. Importantly, Field will maintain significant control: post-IPO, he retains about 74% of Figma’s voting rights thanks to Class B shares possessing supervoting power (15 votes per share).
Valuation Context
Figma’s potential market capitalization is drawing intense scrutiny:
- A mid-range valuation of around $16 billion would surpass its last private valuation ($12.5 billion) but trail the $20 billion offer from Adobe in 2022. That deal was abandoned after regulatory scrutiny.
- If priced at the top of its range, the company’s implied market value could reach $16.4 billion.
Financial Performance
Figma’s financials highlight robust, scalable growth:
- In Q1 2025, Figma generated $228.2 million in revenue and booked $44.88 million in net income—an impressive jump from $13.53 million net income in the same period last year.
- This financial momentum reinforces Figma’s appeal as a leading SaaS design platform, favored by startups and global enterprises alike.
Strategic and Market Positioning
Figma has become synonymous with cloud-based, collaborative design:
- It turns traditionally solitary design workflows into real-time, team-driven processes, which has driven widespread adoption by developers, designers, and product teams.
- Founded in 2012 by Dylan Field and Evan Wallace, Figma has raised over $740 million from prominent venture firms, including Andreessen Horowitz, Sequoia, and General Catalyst.
- The IPO comes amid a revival of tech IPOs on Wall Street and positions Figma alongside recent high-profile offerings, marking a rebound from the quieter market of recent years.
Unique IPO Features and Notable Decisions
- A significant portion of equity is being liquefied by early stakeholders, indicating confidence in public market appetite.
- The IPO is being led by major underwriters: Morgan Stanley, Goldman Sachs, Allen & Co., and J.P. Morgan, with several others managing the syndicate.
- Figma has added a bitcoin investment as a sweetener, a novel move in tech IPOs and a sign of its forward-looking ethos.
What the Figma IPO Means for Investors and the Industry
- For investors, Figma offers exposure to a profitable, fast-growing SaaS business at the heart of digital transformation and product development.
- For the industry, this IPO validates the growing importance of collaborative design tools and highlights the market’s willingness to embrace innovative SaaS leaders.
In summary, Figma’s IPO is set to redefine the landscape for design software companies in the public markets. With strong financials, visionary leadership, and a collaborative platform beloved across industries, Figma is seizing the IPO spotlight—and its next chapter promises to be as innovative as its software.
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Frequently Asked Questions
1. When is Figma going public?
Figma officially began its IPO roadshow in July 2025, with trading expected to begin on the New York Stock Exchange (NYSE) by the end of Q3 2025, under the ticker symbol “FIG.” The exact date will be confirmed once final pricing is announced.
2. What is Figma’s expected IPO valuation?
Figma is aiming for a valuation between $13 billion and $16.4 billion, depending on the final share price. This range reflects growing investor interest and optimism in design and collaboration tools despite a previously stagnant IPO market.
3. How many shares is Figma offering in its IPO?
Figma is issuing a total of approximately 36 million shares, including:
12.5 million new (primary) shares sold by the company.
24.7 million secondary shares from existing shareholders.
An additional 5.5 million shares could be sold if overallotment options are exercised.
4. How much money is Figma expected to raise through its IPO?
Depending on pricing, Figma could raise close to $1 billion, a significant capital infusion that will likely be used for product development, expansion, and general corporate purposes.
5. How profitable is Figma?
Figma turned a solid profit in Q1 2025, reporting:
$228.2 million in revenue.
$44.88 million in net income.
This strong performance positions Figma as a rare profitable IPO in the tech sector, boosting investor confidence.
6. Who are Figma’s major shareholders?
Key stakeholders include:
Dylan Field (Founder & CEO) – retains over 70% of voting control via Class B shares.
Venture capital firms like Sequoia Capital, Andreessen Horowitz, Greylock Partners, and Index Ventures, many of whom were early investors.
These firms are among the sellers in the IPO, signaling a partial exit but also confidence in Figma’s public market potential.
7. What sets Figma apart from competitors like Adobe and Sketch?
Figma is built entirely on the web, enabling live collaboration—similar to how Google Docs transformed documents. Its native cloud-first, real-time approach makes it stand out from traditional desktop-based design tools. This disruptive model has made it the preferred choice for modern design and product teams across industries.