Athira Sethu
Kochi, 2 July 2025
Figma, one of the most used cloud design platforms, is preparing to go public. The firm has submitted an Initial Public Offering (IPO) on the New York Stock Exchange (NYSE), where it intends to list with the ticker symbol “FIG”.
Started in 2012 by Dylan Field, Figma lets individuals design, prototype, and collaborate on ideas in real time. Website, app, and other digital product teams use Figma to work together online, right in their web browsers.
Figma hasn’t yet disclosed how many shares it will sell or for how much. But its most recent valuation, in 2023, was $12.5 billion.
In a letter to shareholders, CEO Dylan Field stated that as a publicly traded company, Figma will aggressively move forward to expand even more—potentially by acquiring other firms. He stated that Figma also aims to buck the trend of successful tech companies being private for too long.
Figma’s decision to go public is backed by strong business growth. In the first quarter of 2025, its revenue increased by 46% compared to the same time in 2024. As of March 2025, over 1,000 customers paid more than $100,000 per year to use Figma’s tools—a 47% increase from the previous year.
This growth reveals the demand for cloud design software is increasing. Figma competes with products such as Adobe and Sketch, but its collaborative nature from a web browser sets it apart.
The largest investment banks will sponsor the IPO, such as Morgan Stanley, Goldman Sachs, JP Morgan, and Allen & Company.
The public listing of Figma is widely observed, particularly following Adobe’s previous bid to purchase the company, which was foiled in 2023 on regulatory grounds. The IPO now provides Figma with a new avenue to develop and expand independently.
Figma’s products are utilized across various sectors such as technology, finance, and media, particularly by design and engineering teams. The last date and financials of the IPO will be released in a subsequent update.
