Dylan Field, co-founder and chief executive officer of Figma Inc., speaks during a Bloomberg Technology television interview in San Francisco, California, U.S., on Thursday, June 24, 2021. Software design company Figma has raised fresh funding at a valuation of $10 billion, quintupling its price tag since last year. Photographer: David Paul Morris/Bloomberg via Getty Images


Design software program startup Figma introduced Tuesday it has filed its confidential paperwork for an IPO. We gained’t know extra till that paperwork turns into public, which, best-case situation can be in a couple of month.

Nevertheless, with the inventory market in groundhog mode — seeing its shadow with each new gyration of the Trump administration’s commerce insurance policies and tariffs — pursuing an IPO proper now could be shocking, even at an exploratory degree. Klarna and StubHub, the 2 probably blockbuster tech IPOs that have been buzzing alongside final month, each hit the pause button in early April after the inventory market crashed on tariff information. They haven’t but rescheduled.

Whereas Figma is engaged on an IPO, that doesn’t imply it would proceed within the standard timeline, which is commonly 4 to 6 weeks after confidential paperwork has been accepted.

Figma, which makes collaborative software program and net purposes for designers, was final valued at $12.5 billion in Could of 2024 after it accomplished a young provide that allowed present shareholders to money out a few of their stake. Adobe tried to purchase Figma for $20 billion, however that deal fell by means of in 2023 after regulatory pushback towards the deal in Europe and the US.

The corporate is backed by enterprise corporations Sequoia Capital, Index Ventures, Greylock, and Kleiner Perkins, which have buyers that sit on its board, together with a protracted checklist of different outfits, together with Andreessen Horowitz and IVP.

Figma declined additional remark.