Figma is going public

Figma, the level that specializes successful collaborative interface design, has filed for an archetypal nationalist offering (IPO). The institution volition trade nether the ticker awesome “FIG” arsenic it prepares to “double down” connected its investments successful AI.

Figma was astir acquired by Adobe for $20 cardinal successful 2022, but the 2 companies scrapped the deal successful 2023 aft facing unit from regulators successful the UK and the European Union. Last year, Figma CEO Dylan Field hinted astatine going nationalist past twelvemonth during an interrogation included successful The Verge’s Command Line newsletter, saying, “There are 2 paths that venture-funded startups spell down. You either get acquired oregon you spell public. And we explored thoroughly the acquisition route.”

Figma confidentially filed for an IPO successful April. Its caller filing reveals Figma’s gross spiked to $228.2 cardinal from $156.2 cardinal erstwhile compared to the aforesaid clip past year. This year, Figma expanded its room of tools to see features for website building, AI coding, branded marketing, and integer illustration. It has besides started letting AI models summation entree to its plan servers to marque coding much efficient.

“We’re already investing heavy successful AI and we program to treble down adjacent much successful this area,” Field says successful the filing. “AI walk volition perchance beryllium a resistance connected our ratio for respective years, but AI is besides halfway to however plan workflows volition germinate going forward.”