Figma Eyes $19B+ Valuation as IPO Demand Skyrockets
Figma Inc. is poised to make a stunning public debut, with shares expected to open between $105 and $110—more than triple its $33 IPO price.
That would give the collaborative design platform a fully diluted valuation exceeding $19 billion, surpassing the $20 billion figure it once aimed for in a scrapped Adobe acquisition.
The company raised $1.2 billion in its offering, issuing over 12 million shares while early backers like Index Ventures and Greylock offloaded nearly double that. Demand was overwhelming, with subscriptions exceeding supply by more than 40x—marking the strongest U.S. software IPO since SailPoint in early 2023.
Figma, founded in 2012, has grown beyond its designer roots, expanding tools for developers, product managers, and marketers. Its browser-based platform now includes AI-driven features like Figma Make and Dev Mode, enabling real-time collaboration across teams. Revenue jumped 46% in Q1 year-over-year, though losses swelled to $732 million for 2024.
CEO Dylan Field remains in firm control with supervoting Class B shares, holding 74% of total voting power. In a statement, he said going public was “the right place to create long-term value,” but emphasized the company’s urgency to keep pushing forward.
Figma is also exploring M&A opportunities and deeper AI integration to stay ahead of rising competition from newer players like Lovable and Bolt. Its IPO brings U.S. public listing proceeds to over $21 billion this year, signaling a strong rebound in the tech IPO market.
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