Figma confidentially files for IPO more than a year after ditching Adobe deal

Dylan Field, co-founder and CEO of Figma Inc., after the morning sessions at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 11, 2024. Design software maker Figma said on Tuesday that it has submitted paperwork to the U.S. Securities and Exchange Commission for an initial public offering. The confidential filing lands 16 months after the company scrapped a deal to be acquired by Adobe for $20 billion due to regulatory pressure in the U.K. The San Francisco startup had originally agreed to the deal 2022. Adobe paid Figma a $1 billion termination fee. Figma's software is popular among designers inside companies who need to collaborate on prototypes for websites and apps. The company was valued at $12.5 billion in a 2024 tender offer. "There are two paths that venture-funded startups go down," Dylan Field, Figma's co-founder and CEO, said in an interview with The Verge last year. "You either get acquired or you go public. And we explored thoroughly the ac ... Read full article.