Figma Files for IPO After Adobe Deal Collapse

Figma, a collaborative design software company, has filed to go public on the New York Stock Exchange under the ticker 'FIG', following the collapse of a $20 billion acquisition by Adobe due to regulatory opposition. In 2024, Figma reported $749 million in revenue (up 48% year-over-year) and a Q1 2025 profit of $44.9 million, with its platform now used by 95% of the Fortune 500. The company's IPO prospectus revealed holdings of approximately $69.5 million in the Bitwise Bitcoin ETF and new plans to reinvest $30 million from stablecoins into Bitcoin. Figma continues to prioritize AI as a core component of its product strategy, aiming to accelerate AI investment to shape the future of design workflows. Its last private valuation was $12.5 billion. Major investment banks, including Morgan Stanley and Goldman Sachs, are leading the IPO, making it one of the most anticipated tech listings of 2025.