Figma Nears Blockbuster IPO with Potential $1.5 Billion Raise

San Francisco – Figma, the collaborative design software giant, has taken a significant step towards its highly anticipated initial public offering (IPO), publicly filing its S-1 document on July 1, 2025. The move signals the company's readiness to go public, with IPO experts like Renaissance Capital estimating the offering could raise up to $1.5 billion, potentially matching or exceeding CoreWeave's 2025 record. The development has drawn widespread attention, including a congratulatory message from Sarah Guo of Conviction, who simply tweeted, "CONGRATS FIGMA."

The regulatory filing provides an in-depth look at Figma's robust financial health. The company reported $749 million in revenue for 2024, marking a 48% increase from the previous year. This strong growth trajectory continued into the first quarter of 2025, with revenue rising 46% year-over-year. Figma also showcased impressive profitability, reporting profits in both Q4 2024 and Q1 2025, following a significant loss in 2023 primarily due to one-time employee stock compensation expenses.

Figma has been actively expanding its platform beyond its core design tool. During its annual Config 2025 conference in May, the company unveiled several new products, including Figma Make, an AI-powered prompt-to-code tool; Figma Sites, for building and publishing websites; Figma Draw, enhancing vector editing capabilities; and Figma Buzz, designed for marketing content creation. These innovations aim to transform Figma into a comprehensive creative operating system, integrating AI across its offerings.

The company's S-1 filing also acknowledges the competitive landscape and the rapid evolution of AI technologies. Figma stated its commitment to significant investments in generative AI, recognizing it as central to the future of design workflows, despite potential short-term impacts on efficiency. This strategic focus underscores its ambition to maintain leadership in a dynamic market.

This IPO progression follows the termination of Adobe's proposed $20 billion acquisition of Figma in 2023 due to regulatory scrutiny, which resulted in Figma receiving a $1 billion breakup fee. The current move to go public highlights Figma's independent strength and market confidence. The successful IPO would solidify Figma's position as a dominant force in the design and product development software industry.