Figma is aiming for a fully-diluted valuation of up to $16.4 billion as it readies for an initial public offering (IPO) on the New York Stock Exchange, a move that could energize the currently recovering tech IPO market, according to a report by Reuters.
The San Francisco-based design software company, together with some of its investors, plans to raise as much as $1.03 billion by offering nearly 37 million shares priced between $25 and $28 each, according to a statement released Monday.
This IPO marks a key moment for Figma, coming more than a year after its $20 billion proposed acquisition by Adobe was blocked due to regulatory concerns in the UK and Europe.
The broader market’s recent rebound and successful IPOs like that of Circle have renewed optimism around tech listings. Figma’s upcoming debut has already drawn attention, partly due to its pro-bitcoin stance and social media buzz. As of March 31, it had $70 million invested in…
