Figma Confidentailly Files For IPO After Adobe Deal Collapses

Figma has confidentially filed for an IPO with the SEC, marking a major move more than a year after scrapping its $20 billion acquisition deal with Adobe due to regulatory pushback. CNBC reports: Figma's software is popular among designers inside companies who need to collaborate on prototypes for websites and apps. The company was valued at $12.5 billion in a 2024 tender offer. 'There are two paths that venture-funded startups go down,' Dylan Field, Figma's co-founder and CEO, said in an interview with The Verge last year. 'You either get acquired or you go public. And we explored thoroughly the acquisition route.'

The announcement lands at a precarious moment for the tech IPO market, which has been largely dormant since late 2021. The Trump presidency was expected to revive new offerings due to promises of less burdensome regulations.

Read more of this story at Slashdot.