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Figma Files Confidentially for US IPO After Adobe Deal Collapse

  • tech360.tv
  • 9 hours ago
  • 1 min read

Figma has confidentially filed for an initial public offering in the United States, marking a significant step forward after its USD 20 billion acquisition deal with Adobe was blocked by regulators.


Two Figma logos on a black background. Left: colorful logo with red, purple, blue, green. Right: white outlined logo.
Credit: FIGMA

The cloud-based design platform submitted its IPO paperwork on Tuesday, more than a year after the proposed Adobe acquisition was shelved due to antitrust concerns in Europe and the United Kingdom.


In December 2023, regulators in both regions halted the deal, which would have been one of the largest software startup acquisitions on record.


Figma was last valued at USD 12.5 billion in 2023 following a secondary share sale that allowed employees and early investors to cash out.


The company, founded in 2012 by Dylan Field, offers a collaborative design platform used to create, share and test digital products. Its customer base includes major firms such as Adobe, Uber, Spotify and Google.


Figma has expanded its services to include team collaboration tools and artificial intelligence features, and it is currently cash flow positive.


The broader US IPO market has faced challenges in recent months due to market volatility and policy uncertainty.


“Sentiment for the IPO market is relatively low and has been dampened by heightened market volatility stemming from a lack of policy clarity,” said Kaidi Gao, senior VC analyst at PitchBook.


Despite a wave of tech startups filing to go public, many have delayed their IPO plans amid uncertain conditions.

 

  • Figma filed confidentially for a US IPO after Adobe deal collapse

  • USD 20 billion Adobe acquisition was blocked by UK and EU regulators

  • Figma was valued at USD 12.5 billion in 2023


Source: REUTERS

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