Catenaa, Thursday, July 31, 2025-Design software developer Figma priced its initial public offering Wednesday at $33 per share, surpassing its expected range of $30 to $32. The company’s shares will begin trading Thursday on the New York Stock Exchange under the ticker “FIG.”
The IPO raised approximately $1.2 billion, mostly benefiting existing shareholders. Figma’s valuation stands at $19.3 billion, slightly below the $20 billion acquisition offer from Adobe that was canceled in 2023 amid regulatory concerns. Adobe paid a $1 billion termination fee following the deal’s collapse.
Founded in 2012 by CEO Dylan Field and Evan Wallace, Figma has expanded globally with offices in the U.S., Europe, and Asia. The company reported revenue growth of 40% for the quarter ended June, with revenues expected between $247 million and $250 million. Operating results ranged from a slight loss to a modest profit, a notable improvement from a nearly $900 million loss a year prior largely driven by stock-based compensation expenses.
For the previous quarter, Figma’s revenue rose 46% to $228.2 million, with net income tripling to $44.9 million.
Dylan Field remains the largest individual shareholder with 56.6 million shares plus control over an additional 26.7 million shares. Leading institutional investors include Index Ventures, Greylock, Kleiner Perkins, and Sequoia Capital, all of whom are selling portions of their stakes in the IPO.
The offering marks a strong return for tech IPOs in a recovering market, following successful debuts from firms like Circle and CoreWeave.
