Figma Files For IPO (cnbc.com)
- Reference: 0178247196
- News link: https://slashdot.org/story/25/07/01/2058244/figma-files-for-ipo
- Source link: https://www.cnbc.com/2025/07/01/figma-fig-files-for-ipo-as-tech-debuts-gain-steam.html
> Revenue in the first quarter increased 46% to $228.2 million from $156.2 million in the same period a year ago, according to Figma's prospectus. The company recorded a net income of $44.9 million, compared to $13.5 million a year earlier. As of March 31, Figma had 1,031 customers contributing at least $100,000 a year to annual revenue, up 47% from a year earlier. Clients include Amazon Web Services, Google, Microsoft and Netflix. More than half of revenue comes from outside the U.S. Figma didn't say how many shares it plans to sell in the IPO. The company was valued at $12.5 billion in a tender offer last year, and in April it announced that it had confidentially filed for an IPO with the SEC. [...]
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> Figma was founded in 2012 by CEO Dylan Field, 33, and Evan Wallace, and is based in San Francisco. The company had 1,646 employees as of March 31. Before establishing Figma, Field spent over two years at Brown University, where he met Wallace. Field then took a Thiel Fellowship "to pursue entrepreneurial projects," according to the filing. The two-year program that Founders Fund partner Peter Thiel established in 2011 gives young entrepreneurs a $200,000 grant along with support from founders and investors, according to an online description. Field is the biggest individual owner of Figma, with 56.6 million Class B shares and 51.1% of voting power ahead of the IPO. He said in a letter to investors that it was time for Figma to buck the "trend of many amazing companies staying privately indefinitely."
"Some of the obvious benefits such as good corporate hygiene, brand awareness, liquidity, stronger currency and access to capital markets apply," wrote Field. "More importantly, I like the idea of our community sharing in the ownership of Figma -- and the best way to accomplish this is through public markets."
As a public company, Field said investors should "expect us to take big swings," including through acquisitions.
In April, Figma bought the assets and team of an unnamed technology company for $14 million, according to the filing. They also registered over 13 million users per month, one-third of which are designers.
[1] https://www.cnbc.com/2025/07/01/figma-fig-files-for-ipo-as-tech-debuts-gain-steam.html
[2] https://www.sec.gov/Archives/edgar/data/1579878/000162828025033742/figma-sx1.htm#i8dccdb6f4d824d4aba81e7c665eaa62d_148
[3] https://slashdot.org/story/23/12/18/1317239/adobe-abandons-20-billion-acquisition-of-figma
Re: (Score:1, Insightful)
I think they mean "Ligma", as in "Lig ma balls". Got 'em!
What the hell is Figma? (Score:3)
It would be nice if, somewhere in the extensive history in the summary, it mentioned what the fuck Figma does.
Re: (Score:2)
It's a UI prototyping tool. My company's UI folks seem to like the ease of developing prototypes with it, but its organizational system is nonexistent. I can never find any files; the only way I can access any of the files is via links people send me. Maybe this is due to the way the permissions are locked down at my company.
figma (Score:2)
Figma balls
What now? (Score:3)
A six paragraph summary that doesn't once mention what the company makes or sells. I'm guessing that's because it's actually nothing; the next in a long line of vaporware IPOs.
Re: (Score:2)
They sell access to an online service that lets you mock up and prototype user interfaces, such as a phone or tablet. I assume they can also prototype desktop-type UI layouts. I think they were one of the earliest on-line, web-delivered tools of this type. Now there are quite a few others. And there are even some open source ones.
Doesn't everyone "vibe code" UIs now? (Score:2)
I give Figma 5 years max.
Most sincere thing I've ever read (Score:2)
> "More importantly, I like the idea of our community sharing in the ownership of Figma -- and the best way to accomplish this is through public markets."
Yes, no doubt "community sharing" is by far the most important reason he wants to go public. It's not because he wants money, not at all.
It's well understood that the stock market understands community, and the artistic value of things other than the dollar. Fund managers are the ones you want to talk to for advice about website layout tools.
Re: (Score:2)
"community sharing in the ownership of Figma"
Did your brain not parse that properly? The way you share ownership of a company with the public is by, surprise, selling shares the the public.
Re: Most sincere thing I've ever read (Score:2)
Well put. Bucking the trend of staying private is so courageous. That is really believable as a reason, when you own 50% of a company which would probably be worth several $billion after the IPO.
But "They also registered over 13 million users per month." So that would be about 150 million UI designers per year.... I'm sure that will never taper off.. funny though, I thought the summary said they had only 450,000 customers.
It's almost as if some people will say anything, even things that don't make sense,