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Figma (FIGM.PVT), a cloud-based collaborative web design platform company, filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE). The company will trade under the ticker “FIG.”
Figma CEO and founder Dylan Field said in a letter to investors, “…as a public company, investors should expect us to take big swings, including through acquisitions.”
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Cloud-based collaborative web design platform Figma files for an initial public offering in United States, plans to trade on the New York Stock Exchange under the ticker symbol FIG. Figma has yet disclosed how many shares it’s planning to sell in the IPO, but the company was valued at $12.5 billion in a tender offer last year. Figma was founded in 2012 by CEO Dylan Field, who said in a letter to investors that it was time for Figma to buck the trend of many amazing companies staying privately indefinitely, and added that, as a public company, investors should expect us to take big swings, including through acquisitions. Revenue in the first quarter for Figma increased 46% year-over-year, and as of March 31st, it had over 1,000 customers contributing at least $100,000 a year to annual revenue, up 47% from a year earlier. Morgan Stanley, Goldman Sachs, Allen & Company, as well as JP Morgan, will act as joint lead book running managers for the proposed offering.
