WANAN YOSSINGKUM
Figma (FIG), a design software company that provides a wide range of artificial intelligence tools for creating and sharing designs for websites, apps and other digital products, has boosted the proposed range for its initial public offering.
The San Francisco-based firm plans to offer its shares for $30 to $32 each when it hits the New York Stock Exchange, the company announced today. This is an increase from last week, when the company planned to price 12.47M shares at between $25 and $28 per share. Figma’s current stockholders hold 24.46M shares that may be offered as well.
The new expected price of $30 to $32 per share contains the same number of total shares at 36.9M. A sale near the high value of this range could value the company near $16B. Figma is expected to be priced on July 30 and listed on the NYSE on July 31. However, these dates are not confirmed.
The IPO is being led by several investment banks, including Morgan Stanley (MS), Goldman Sachs (GS), Allen & Co., J.P. Morgan (JPM), BOFA Securities (BAC), Wells Fargo Securities (WFC), RBC Capital Markets, William Blair, and Wolfe/Nomura Alliance.
Figma’s revenue for the year ended Dec. 31, 2024, was $749M, up 48% year-over-year. Revenue grew 46% year-over-year in the first-quarter of 2025 to $228.2M.
Net income in 2023 and 2024 was $737.8M and a net loss of $732.1M, respectively. In the first-quarters of 2024 and 2025, net income came in at $13.5M and $44.9M, respectively.
Adobe (NASDAQ:ADBE) tried to acquire Figma for $20B in 2022. The deal ran into regulatory scrutiny around the world, and the companies ultimately scrapped the merger, which resulted in Adobe paying Figma a $1B termination fee.