Figma, the design software powerhouse that is known to have changed the way teams collaborate in product design, is set to go public. 

On July 21, 2025, the San Francisco-based firm officially filed for its IPO, with plans to list on the New York Stock Exchange under the ticker FIG. 

Figma plans to sell nearly 37 million shares at a price between $25 and $28 each, which could help the company raise more than $1 billion in total. 

Based on the filing, Figma’s fully diluted valuation could reach an impressive $16.4 billion, a remarkable milestone amid a tech IPO resurgence.

This IPO comes over a year after Adobe’s planned $20 billion acquisition of Figma was abandoned due to antitrust challenges in the UK and EU. 

Since then, Figma has focused on staying an independent company and in May 2025, during its Config conference, it launched four new products according to Business Insider.

Strong Financials and a Premium Client List

According to its Q1 2025 financials, Figma has delivered 46% year-over-year revenue growth and has tripled its net income. 

In 2024 alone, it generated roughly $228 million in revenue with $45 million in net profit, even after paying a one-time $732 million tax because of employee stock benefits.

In a move that sets it apart from other tech firms, Figma revealed it holds $70 million in a bitcoin ETF, with plans to invest an additional $30 million. 

This unusual decision might surprise some people, but it shows that Figma is open to trying new things. By investing in something different, the company could attract both tech fans and investors who are interested in crypto.

Leadership, Governance, and Vision

Founder and CEO Dylan Field will retain long-term control of Figma through a super-voting share structure. This setup is meant to make sure that company leaders and investors want the same thing and work toward the same goals over time.

Dylan Field has also shared that Figma might buy other companies in the future. He said he’s open to making bold moves through mergers and acquisitions (M&A) to help Figma grow even more.

Underwriters and the Road Ahead

Figma’s IPO, is being led by a group of large underwriters, including Morgan Stanley, Goldman Sachs, J.P. Morgan, and Allen & Company, according to Reuters. 

This offering is made up of both new shares and shares from current shareholders, which is an unusual structure for high-growth tech IPOs that balance a capital raise with liquidity for early investors.

Assuming the IPO progresses as anticipated, Figma is expected to start trading in July or early August, making it one of the largest tech IPOs of summer.

Figma’s IPO isn’t just another company going public, it could be an important moment for the tech industry. After walking away from a huge buyout deal, Figma’s choice to go public might bring back excitement for founder-led tech companies. 

So, if things go well, this IPO could make investors trust other growing tech businesses too. Figma might also help start a new chapter for software companies that are going public.

Final Takeaway

Figma’s move to the public markets is more than a financial milestone, it’s a strategic gamble for the future of productivity and SaaS innovation. With the financials to back it up, Figma has every reason to succeed.