Figma is offering 36,937,080 shares of Class A common stock at $33 apiece, in an initial public offering that values the web design tool developer at $19.3 billion.

The [1]offering consists of 12,472,657 shares of Class A common stock from Figma and 24,464,423 shares of Class A common stock from existing stockholders.

The valuation in cash and stock is a little less than the $20 billion Adobe [2]was going to spend acquiring the company before regulators [3]stepped in and the deal was dropped. "It's not the outcome we hoped for," Figma CEO Dylan Field [4]said of the failed deal, though the IPO will likely cushion the blow somewhat.

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Figma sent out its IPO prospectus a month ago and has since revised the proposed price upward. [6]On July 21 , it put the price in the range of $25 to $28 per share. [7]By July 28 , it was between $30 and $32 per share, and on July 31, it had risen to $33 per share.

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The IPO will be closely watched by venture capitalists and investors hopeful of finally realizing a return on the billions poured into tech companies over the years. The Figma IPO will also represent a windfall for early investors, as well as some of the company's staff, including its CEO.

[10]Figma files for an (A)IPO with prospectus that mentions AI 150+ times

[11]Figma bucks market trends, plunges into IPO waters after Adobe's failed buyout

[12]Figma pulls AI design tool for seemingly plagiarizing Apple's Weather app

[13]Adobe has 'no plans' to invest in XD despite failed Figma buy

A year ago, Figma was [14]valued at $12.5 billion. It laid claim to 13 million monthly active users in its [15]prospectus . Figma's products start with a free tier, but go up to $90 per seat per month (billed annually) for the Enterprise tier.

In its prospectus, the company noted the arrival of AI technologies as a risk, as well as the opportunities presented, considering the creative nature of Figma's products. While there are concerns about the ethical, reputational, and legal challenges arising from AI, it's not enough to stop the developer from spending millions on the technology.

"We were founded to help anyone go from imagination to reality," Figma wrote in its prospectus, "and we believe that AI is critical to delivering our vision."

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Investors expect that vision to translate into a substantial return. ®

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[1] https://www.figma.com/blog/ipo-pricing/

[2] https://news.adobe.com/news/news-details/2022/adobe-to-acquire-figma

[3] https://www.theregister.com/2023/12/18/adobe_figma/

[4] https://www.figma.com/blog/figma-adobe-abandon-proposed-merger/

[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2aIuTGdVLpITvPuNhV1D4owAAAFg&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0

[6] https://www.figma.com/blog/ipo-roadshow-launch/

[7] https://www.figma.com/blog/increased-ipo-price-range/

[8] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aIuTGdVLpITvPuNhV1D4owAAAFg&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0

[9] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33aIuTGdVLpITvPuNhV1D4owAAAFg&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0

[10] https://www.theregister.com/2025/07/01/figma_files_to_go_public/

[11] https://www.theregister.com/2025/04/16/adobe_figma_ipo/

[12] https://www.theregister.com/2024/07/03/figma_plagiarizes_apple/

[13] https://www.theregister.com/2024/01/31/adobe_no_plans_to_invest/

[14] https://www.bloomberg.com/news/articles/2024-07-17/coatue-general-catalyst-back-figma-at-12-5-billion-valuation

[15] https://www.sec.gov/Archives/edgar/data/1579878/000162828025033742/figma-sx1.htm

[16] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aIuTGdVLpITvPuNhV1D4owAAAFg&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0

[17] https://whitepapers.theregister.com/