Design software unicorn Figma is about to go public, with a valuation potentially reaching $16 billion

Design software company Figma has released its latest IPO prospectus, with a valuation potentially reaching $16 billion, significantly discounted from Adobe's previous acquisition price.

On July 21, according to Figma's latest prospectus, the company plans to issue approximately 37 million shares, with a pricing range of $25 to $28 per share. Based on the upper limit of the offering price, the IPO fundraising scale could reach up to $1 billion, and the company's fully diluted valuation will reach $16.4 billion.

It is worth noting that in 2022, Adobe had planned to acquire Figma for $20 billion, but the deal was canceled due to opposition from regulators. Despite the significant discount from the acquisition price, Figma's performance momentum remains strong.

Figma's preliminary performance for the second quarter shows revenue reaching $247 million to $250 million, a year-on-year increase of 39% to 41%. On a non-GAAP basis, operating profit is between $9 million and $12 million, with an operating profit margin rising to 4%-5%.

Rapid Growth Driven by High-Quality Customer Base

Wallstreetcn previously mentioned that Figma's rapid growth is attributed to its large and high-quality customer base.

Data shows that the company has over 13 million monthly active users, of which only one-third are designers. As of March 31, approximately 85% of monthly active users are from outside the United States, while 53% of revenue comes from overseas markets.

As of March 31 this year, the company had approximately 450,000 enterprise customers, with the number of customers contributing annual revenue exceeding $100,000 reaching 1,031, a year-on-year increase of 47%. Its client list includes well-known companies such as Duolingo, Mercado Libre, Netflix, and Stripe.

Figma was founded in 2012 by 33-year-old CEO Dylan Field and Evan Wallace. Field is the largest individual shareholder, holding 56.6 million Class B shares, with 51.1% voting power before the IPO.

It is noteworthy that Figma disclosed in its prospectus that it has been authorized to issue "blockchain common stock" in the form of blockchain-based tokens. However, the company stated that there are currently no plans to issue such stocks