Figma Files For IPO With Strong Q1 Growth After Adobe Deal Collapse

Benzinga

Design software firm Figma filed for an IPO on Tuesday and plans to list under the ticker “FIG” on the NYSE, according to CNBC. The offering is one of the most closely watched since Adobe’s $20 billion acquisition attempt was blocked last year. Figma posted $228.2 million in first-quarter revenue, up 46% year-over-year, and $44.9 million in net income. Backed by over 450,000 customers and 13 million monthly users, the company serves major clients including Netflix, Stripe, and ServiceNow, whose CEO now sits on Figma’s board. Figma ended March with $1.54 billion in cash and disclosed recent acquisitions and crypto investments, including $69.5 million in a Bitcoin ETF and a $30 million allocation to USD Coin. Field said the IPO will allow the broader community to share in the company’s ownership.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Designed software firm Figma filed for an IPO on Tuesday and plans to list under the ticker FIG on the NYSE, according to CNBC.

00:10The offer is one of the most closely watched since Adobe's $20 billion acquisition attempt was blocked last year.

00:16Figma posted $228.2 million in first quarter revenue, up 46% year over year, and $44.9 million in net income.

00:23Backed by over 450,000 customers and 13 million monthly users, the company serves major clients including Netflix, Stripe, and ServiceNow, whose CEO now sits on Figma's board.

00:34Figma had been marched with $1.4 billion in cash and disclosed recent acquisitions and crypto investments, including $69.5 million in a Bitcoin ETF and $30 million allocation in USD coin.

00:45Field said the IPO will allow the broader community to share the company's ownership.

00:49For all things money, visit Benzinga.com.

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