Figma Files for IPO Following Failed Adobe Deal
Cloud-based design platform Figma has quietly filed to go public in the United States, according to a report by Reuters. This move comes after the collapse of its $20 billion acquisition deal with Adobe in 2023 due to regulatory hurdles in the UK and the European Union.
Figma had agreed to the acquisition in 2022, but the deal was never finalized because of antitrust concerns. By 2024, the company's valuation stood at approximately $12.5 billion.
Currently operating profitably, Figma’s platform is widely used for designing, sharing, and testing digital products. Its clientele includes major companies such as Adobe, Uber, Spotify, and Google. The company was founded in 2012 by Dylan Field.
Despite prevailing uncertainties and regulatory ambiguities in the U.S. IPO market, analysts view Figma’s decision to proceed with an initial public offering as a sign of confidence in the broader market.
