FIGMA (FIG) files for IPO if technological debuts get Steam

Design Software Figma has applied for IPO on Tuesday and plans to trade on the New York Stock Exchange under the Ticker Fig.

The proposal will become one of the extremely expected IPO in recent years, given the Figma growth rate and the private market praise. At the end of 2023, the acquisition agreement by $ 20 billion with Week was inscribed Du -of the UK’s regulatory problems that have forced Adobe to pay Figma for stopping $ 1 billion.

According to the Figma Avenue, the revenue in the first quarter increased by 46% to $ 228.2 million from $ 156.2 million over the same period ago, Figma Avenue reports. The company recorded a net profit of $ 44.9 million compared to $ 13.5 million a year earlier. As of March 31, he had 1031 customers who made at least $ 100,000 a year per annum, which is 47% more than a year earlier.

The company did not say how much stock it plans to sell in IPO. The company was estimated at $ 12.5 billion in tender proposal Last year and in April it announced that there is Confidently submitted For IPO with SEC.

Banks on Wall -Strit predict The IPO tide after Donald Trump The US presidential election won in November after the dry spell, which was given at the end of 2021, when the inflation and the growth of interest rates pulled investors from risky assets. At the time delay Their plans are recruited late.

Issuer StableCoin Wheel He doubled in the debut price in early June and has now increased more than six times from the cost of IPO. Internet banking also chime made his debut further In June after IPO Hinge Health in May. Coreweave’s artificial infrastructure provider, which became public in March, jumped by 46% in June and since its proposals.

Buy now, pay later companies ClearFounded in the UK, submitted to the US IPO in March, as well as the StubHub ticket market.

Figma was founded in 2012 by CEO Dylan Field, 33 and is in San Francisco. The company had 1646 employees as of March 31. Field is the largest individual owner, 56.6 million class B and 51.1% voting ahead of IPO.

In a letter to investors, Field said it was time to make the Figma to “trend many strange companies that remain in private.”

Several companies are in line with the bill, including Databricks, SpaceX and Stripe.

“Some of the obvious advantages such as good corporate hygiene, brands are awareness, liquidity, stronger currency and access to capital markets,” he wrote. “More importantly, I like the idea of ​​sharing our community owned by Figma – and the best way to achieve it is through state markets.”

Field added that, as a public company, investors should “expect we will make big swings”, including through acquisitions.

IPO will also mark another necessary victory for Venture Silicon Valley enterprises that need return after a long downturn. The Ventures Index is the largest external shareholder, with 17% of the shares before the proposal, the application said. Greylock owns 16%, Kleiner Perkins controls 14%and Sequoia has a share of 8.7%.

Figma said he was facing “intensive competition”, and the loss of the market share “will adversely affect our business” but does not call any specific competitors.

Morgan Stanley and Goldman Sachs the leading deal together with Allen and Ko and Jpmorgan chase.

This is conducting the news. Please check the updates.

– Ari Levy CNBC contributed to this report.

See: FIGMA CEO by unsuccessful Adobe Deal, Startup -Landscape, Big Redesign with AI