Figma confidentially recordsdata for IPO greater than a generation nearest ditching Adobe offer

Design device maker Figma said on Tuesday that it has submitted bureaucracy to the U.S. Securities and Change Fee for an preliminary community providing.

The undercover submitting lands 16 months nearest the corporate scrapped a offer to be bought through Adobe for $20 billion because of regulatory force within the U.Okay. The San Francisco startup had initially assuredly to the offer 2022. Adobe paid Figma a $1 billion termination price.

Figma’s device is pervasive amongst designers inside of corporations who want to collaborate on prototypes for internet sites and apps. The corporate used to be valued at $12.5 billion in a 2024 gentle trade in.

“There are two paths that venture-funded startups go down,” Dylan Farmland, Figma’s co-founder and CEO, mentioned in an interview with The Verge utmost generation. “You either get acquired or you go public. And we explored thoroughly the acquisition route.”

The announcement lands at a precarious age for the tech IPO marketplace, which has been in large part dormant since past due 2021. The Trump presidency used to be anticipated to restore unutilized choices because of guarantees of much less burdensome rules.

However nearest submitting their prospectuses with the SEC, fintech corporate Klarna and on-line price ticket market StubHub not on time their IPOs previous this generation following the marketplace turmoil led to through Trump’s bulletins on common price lists. Virtual banking carrier Chime, which had filed confidentially with the SEC, additionally abeyance its deliberate providing.

Turo, a car-sharing carrier, withdrew its IPO prospectus in February, 3 years nearest submitting its preliminary prospectus.

Figma used to be based in 2012 and is subsidized through buyers together with Andreessen Horowitz, Sturdy Capital, Greylock Companions, Index Ventures, Kleiner Perkins and Sequoia Capital. The corporate, which ranked twenty sixth on CNBC’s Disruptor 50 record in 2024, had about $600 million in annual earnings as of early utmost generation.

— CNBC’s Ari Levy contributed to this record.