(Bloomberg) Figma Inc. shares are indicated to act at $ 95 to $ 98 each, after the design and collaborative software company and some of the Backers collected $ 1.2 billion in one of the most anticipated American initial public offers of the year.
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The indications, which are signals from market makers of the level where trade can start, implies no less than a profit of 197% above the IPO price of $ 33 each. The shares were marketed for $ 30 to $ 32 per share, after the company had increased the reach earlier in the week.
The company sold 12.47 million shares in the IPO, which priced on Tuesday, while investors, including Index Ventures, GreyLock partners and smaller Perkins sold 24.46 million shares.
The IPO prices gave Figma a market value of $ 16.1 billion, based on the outstanding shares stated in its submissions. Accounting for stock options for employees and limited share units, the company has a fully diluted value of around $ 18.5 billion.
Including limited stock units for Chief Executive Officer Dylan Field, who are subject to fortress conditions, would rise the fully diluted value higher than $ 19 billion.
The figure will probably climb well above $ 20 billion rating that Figma would have achieved in a planned sale to Adobe Inc. That fell apart in 2023.
The shares offered in the IPO of Figma were eventually overwritten more than 40 times, with more than half of the orders that did not receive stock, Bloomberg News reported. The robust question points to a strong open for the first considerable software offer in the US since the debut of Sailpoint Inc. In February.
Figma is used to design interfaces for web and mobile applications. It has expanded its product package in an attempt to be more useful for software development and general cooperation in the workplace.
Like many software companies, Figma charges customers based on the number of users and the type of chair that users have. It added the DEV mode to the platform in 2023 to make closer cooperation with developers and has included more recent AI technology in many of its own tools. This year the Figma Make, an AI-based product that the user is asked in functional prototypes.
Now that the company is public, “we have to keep sprinting, to push hard, and we can’t let the public markets distracted,” Field said in an interview.
By becoming public, Figma can have a large brand moment that aims to the importance of design, Field said. “This is a time when we can create enormous value for our community, our customers, and I think the public market is the right place to do this.”
The company is growing rapidly, with an increase of 46% year on an annual increase in sales of the first quarter.
What Bloomberg Intelligence says
The profitability of Figma, emphasized by an adapted gross margin around 92%, even follows its most established softwarepeers above, giving the company sufficient flexibility to invest in new products and markets.
– Anurag Rana and Andrew Girard, technology analysts
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An important question for Figma’s success is whether it can become a tool that is used penetrating by office workers outside of designers. The company’s tools sees a strong acceptance by software developers, product managers and marketers, said Andrew Reed, a partner at Sequoia Capital and a member of the Figma board.
Sequoia, one of the most legendary companies of Silicon Valley, invested for the first time in Figma in 2019. Around this time, companies began to adopt the product of Figma’s en masse, said Reed.
The use of AI-oriented software appearance apps that are potential competitors for Figma, such as Lovable and Bolt, has increased rapidly this year. Weaving AI functions via Figma is a top priority, Field said. “We have so much room to investigate how we can make great AI products and experiences.”
In a separate interview with Bloomberg TV, Field repeated his promise of the IPO archive founder that the company would pursue mergers and acquisitions on a scale.
There is so much that can apply to the company in the field of product design and development, he added. “It must be a great team, a great asset, and must be something that we think the team is culturally consistent.”
IPO Volume Klimt
The IPO has abolished the volume of the first share sales at American stock exchanges above last year’s pace. There has been more than $ 21 billion in US First-Time Share sales in the year to date, excluding financial vehicles such as white control companies, just behind $ 20.2 billion that was collected in the same period in 2024, data collected by Bloomberg Show.
The demand for the IPO of Figma was probably helped by an order snew process comparable to an auction. Potential investors in the Figma offer were asked to state exactly the number of shares they want to buy and at what price, a person who is familiar with the matter.
Veld will continue to check the company with 74.1% of the votes after the IPO through its participations of class B shares with 15 votes each, according to the archives.
The CEO and colleague Brown University student Evan Wallace started Figma in 2012. Field lived for two and a half years to Brown before he accepted a Thiel Fellowship, the Peter Thiel-supported program that offers financing to young entrepreneurs, on condition that they leave the school. Figma was embraced on a large scale by designers who heat on his browser-based interface, to replace previous cooperation methods that include the sharing of files separately.
Figma had a net income of $ 44.9 million and a turnover of $ 228 million in the three-month period ending on March 31, according to the submissions. It reported sales growth in 2024, although increasing operational costs have contributed to a net loss of $ 732 million for the year.
Adobe, a maker of software for creative professionals, ran away from the deal to buy Figma after collisions with supervisors. It paid a termination costs of $ 1 billion.
The offer was led by Morgan Stanley, Goldman Sachs Group Inc., Allen & Co. and JPMorgan Chase & Co. The shares of the company are listed on the New York Stock Exchange under the symbol Fig.
-With the help of Katie Roof, Natalia Kniazhevich, Eric J. Weiner and Matt Turner.
(Updates with indications in the first two paragraphs.)
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