Newsletter
Figma has filed for a confidential IPO in the US, over a year after its $20 billion acquisition deal with Adobe was scrapped due to antitrust hurdles.
The deets: Figma is a cloud-based design platform that lets teams collaborate in real-time to create user interfaces, websites, and digital products. It’s widely used by designers, developers, and product teams for UI/UX design, prototyping, and wireframing all from the browser, with no downloads needed.
It now joins the likes of Reddit, Stripe, and Shein in taking the confidential route to go public amid a still-uncertain market backdrop.
Confidential filings let companies test IPO waters without disclosing full financials until they’re ready to move ahead.
The why: IPO plan comes after regulators in Europe and the UK blocked Adobe’s mega acquisition in December 2023, calling it anti-competitive.
Big theme: the US IPO market made a flashy comeback in 2023, but tariff-led volatility has cooled the momentum. Still, design unicorns like Figma are hoping investor interest will hold strong for standout software players.
