Design software startup Figma announced on Tuesday that it had filed confidential documents with the IPO. I don’t know any more until the documents are made public.
But with the stock market in groundhog mode, it is surprising, even on an exploratory level, to see its shadow in all new turn of the Trump administration’s trade policy and tariffs and pursue an IPO now. Klarna and StubHub are two potentially blockbuster technology IPOs that were humming along last month, pressing the pause button in early April after the stock market crashed on tariff news. They have not been rescheduled yet.
Figma is working on an IPO, but that doesn’t mean it will progress on a normal timeline. This often occurs four to six weeks after the confidential documents are accepted.
Figma, which manufactures Collaborative Software and Web applications for designers, was valued at $12.5 billion in May 2024 after completing a tender offer to allow existing shareholders to acquire a portion of their shares. Adobe tried to buy Figma for $20 billion, but the transaction fell in 2023 after regulatory enforcement of contracts in Europe and the US.
The company is supported by ventures Sequoia Capital, Index Ventures, Greylock and Kleiner Perkins, along with a long list of other outfits, including Andreessen Horowitz and IVP.
Figma declined to comment further.
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