Figma Files for $12.5B IPO Backed by Venture Firms

Figma, a design software startup, has confidentially filed for an IPO in the United States, a strategic move following the collapse of its $20 billion acquisition deal with Adobe due to regulatory hurdles in 2023. The company, valued at $12.5 billion in a recent tender offer, is backed by notable venture firms including Sequoia Capital and Andreessen Horowitz. The decision to go public comes amid a challenging environment for tech IPOs, with market volatility influenced by tariff uncertainties and previous IPO delays from companies like Klarna and StubHub. Figma's software, known for its collaborative design capabilities, is popular among major companies such as Adobe and Google. Despite the market's unpredictability, Figma remains cash flow positive and continues to expand its platform offerings, including AI features for team collaborations.