Figma raised $1.2 billion in its IPO

The developer of the popular design software Figma raised $1.2 billion in an IPO on the US market. The company issued 36.9 million shares at $33 each — higher than initially expected. Demand for the shares was enormous: the volume of orders exceeded the supply almost 40 times, making this offering one of the most anticipated in 2025.

A total of 36.9 million shares were sold. The company's market capitalization stood at $16.1 billion, and with all options and restricted shares included, it reached approximately $18.5 billion. This is below the $20 billion valuation Figma had in the failed Adobe deal in 2023.

Demand for the IPO was enormous — the subscription was oversubscribed almost 40 times. One of the factors was an atypical placement mechanism, similar to an auction: investors were asked to specify the exact number of shares and their desired price.

Figma is a developer of cloud-based UI/UX design software, popular among designers and developers. The company is actively expanding its functionality, including AI tools, as well as Dev Mode for interaction with developers. In 2025, the company introduced Figma Make, an AI-powered prototype generator.

Figma CEO and co-founder Dylan Field retains control, holding shares with 15 votes per share. After the IPO, he owns 74.1% of the voting shares.

Major investors include Sequoia Capital, Index Ventures, Greylock Partners, and Kleiner Perkins.

Source: reuters