It is reported that Figma has hired Morgan Stanley to lead its U.S. IPO, with a previous valuation of $12.5 billion
Design software company Figma Inc. has hired Morgan Stanley to lead its initial public offering (IPO), which is expected to be one of the largest IPOs of the year. Figma has also invited Goldman Sachs and Allen & Co. to participate in the listing, planning to go public as early as this year. Figma had agreed to be acquired by Adobe in 2022, but the deal was canceled due to regulatory scrutiny. The company's clients include Microsoft and Amazon, with a valuation of $12.5 billion. Figma's listing will boost the IPO market
According to informed sources, design software company Figma Inc. has hired Morgan Stanley to lead its initial public offering (IPO), which could be one of the largest IPOs of the year. The sources said that Figma has also invited Goldman Sachs and Allen & Co. for its listing. The informed sources indicated that Figma could go public as early as this year. The company stated in April that it had confidentially submitted its IPO application. The sources added that the timing and other details of Figma's plans may still change.
Figma, which produces application design and collaboration software, agreed to be acquired by Adobe (ADBE.US) for $20 billion in 2022, but the deal was canceled after more than a year of regulatory scrutiny.
Last week, Figma unveiled a series of new products at the Config conference in San Francisco, including some AI-related features, such as coding tools to help designers build applications. The company's clients include Microsoft (MSFT.US) and Amazon (AMZN.US).
Data compiled by PitchBook shows that Figma has raised over $300 million since 2013. Other major investors include Sequoia Capital and Greylock Partners. According to reports last year, companies such as Coatue Management, Alkeon Capital Management, and General Catalyst Partners invested in the company, which reached a valuation of $12.5 billion. Figma's investors also include Index Ventures and Kleiner Perkins.
Figma's IPO this year will provide a necessary boost to the IPO market. Although earlier predictions suggested a surge in initial stock sales on U.S. exchanges this year, data shows that the IPO market has raised only about $19 billion so far. The data indicates that this increase is relatively small compared to the same period in 2024, at just 11%, with only three IPOs exceeding $1 billion this year
