Figma in Discussions with Bankers to Explore I.P.O. This Year
Figma’s chief executive, Dylan Field, said that the regulatory scrutiny meant another sale was likely off the table. Figma’s CEO, Dylan Field, said that the regulatory scrutiny would likely mean another sale is off the table. But in January, the Justice Department blocked a deal between Hewlett Packard Enterprise and Juniper Networks, suggesting continued scrutiny.
Many tech companies instead appear to be gravitating to potentially going public. CoreWeave is a cloud computing service provider for artificial intelligence. It has filed to go public and will be a test for Wall Street’s appetite towards A.I. related companies. A spokesman for Figma declined comment. Mr. Field said at a conference last year that the company was on a path to going public.
Founded in 2012 in San Francisco, Figma offers free, cloud-based tools and services for designers and developers. Adobe made a $20 billion offer for Figma in 2022. Adobe paid Figma a $1 Billion breakup fee after the deal fell through. tools. The company’s products include FigJam (an online whiteboard) for users to brainstorm, collaborate and create presentations, and Figma Slides (a PowerPoint-like tool for creating presentations). The products have helped Figma grow globally. More than 85 percent of its weekly active users are outside the United States, according to Figma, and more than half of its revenue comes from international customers.
Figma has said it wants to continue expanding beyond designers. Roughly two-thirds of its customers identify as something other than designers, and one-third of its user base are software developers.
Figma has opened offices in New York, London, Tokyo, Paris and Berlin in recent years. It has over 1,400 employees.
