Figma Increases IPO Price Range, Targets $19B Valuation on NYSE

Collaborative design software company Figma is set to go public on the New York Stock Exchange under the ticker "FIG," raising its IPO price range to $30-$32 per share from an earlier $25-$28 range, targeting to raise about $1.2 billion. This upsizing reflects strong investor demand, with the offering reportedly oversubscribed by more than 30 times, and values the company between $17.6 billion and $19.2 billion, depending on the source, still below the $20 billion Adobe had previously offered before the deal was canceled due to regulatory hurdles. Figma's IPO is being managed by major banks including Morgan Stanley, Goldman Sachs, Allen & Company, and JPMorgan, employing an auction-style process where investors specify share quantity and price, which has become popular in recent tech IPOs. Financially, Figma reported $228 million in revenue in Q1 2025, showing significant growth, with projections for continued profitability and revenue expansion in the upcoming quarter. The company, founded in 2012 and widely used by Fortune 500 companies, ended 2024 with a net loss primarily due to operating costs but has since returned to profitability. CEO Dylan Field will retain control through super-voting shares and has indicated plans for growth via mergers and acquisitions.