Design software program startup Figma introduced Tuesday it has filed its confidential paperwork for an IPO. We received’t know extra till that paperwork turns into public, which, best-case state of affairs could be in a couple of month.
Nonetheless, with the inventory market in groundhog mode — seeing its shadow with each new gyration of the Trump Administration’s commerce insurance policies and tariffs — pursuing an IPO proper now, even at an exploratory degree, is shocking. Klarna and StubHub, the 2 probably blockbuster tech IPOs that have been buzzing alongside final month, each hit the pause button in early April after the inventory market crashed on tariff information. They haven’t but rescheduled.
Whereas Figma is engaged on an IPO, that doesn’t imply it’s going to proceed within the traditional timeline, which is commonly 4 to six weeks after confidential paperwork has been accepted.
Figma, which makes collaborative software program and net purposes for designers, was final valued at $12.5 billion in Could after it accomplished a young supply that allowed present shareholders to money a few of their stake out. Adobe tried to purchase Figma for $20 billion, however that deal fell via in 2023 after regulatory pushback towards the deal in Europe and the US.
The corporate is backed by enterprise corporations equivalent to Sequoia Capital, Index Ventures, Greylock and Kleiner Perkins, who’ve traders that sit on its board and a protracted listing of others together with Andreessen Horowitz and IVP.
Figma declined additional remark.
