Figma files (Fig) for public subscription with the acquisition of steam technology

Figma design software for public subscription was presented on Tuesday, and plans to trade on the New York Stock Exchange under the Ticker “Fig”.

This offer will be one of the long -awaited subscription subscriptions in recent years, given the Figma growth rate and its own evaluation in the market. In late 2023, a $ 20 billion acquisition agreement with Adobe He was Abolish Because of the organizational concerns in the UK that prompted Adobe to pay Figma finishing fees $ 1 billion.

In the first quarter, revenues increased by 46 % to 228.2 million dollars from 156.2 million dollars in the same period last year, according to the Figma Bulletin program. The company recorded a net income of $ 44.9 million, compared to $ 13.5 million in the previous year. As of March 31, he had 1031 customers who contribute at at least $ 100,000 annually to annual revenue, an increase of 47 % over the previous year. More than half of the revenues come from outside the United States

The company did not say the number of shares planned to sell in public subscription. The company’s value was 12.5 billion dollars in A. Bid Last year, and in April it was announced that it was I was raised in secret For public subscription with SEC.

Wall Street Banks Propagate The subscriptions of subscriptions yet Donald Trump He won the US presidential elections in November after a dry talisman dating back to late 2021, when high inflation and high interest rates led to the exit of risky assets. While President Trump’s announcement of the customs tariff in April from the markets, he led a number of companies delay Their plans, the activity has been taken recently.

Source Stablecoin circle The value has multiplied in early June for the first time and is now more than six times the price of the public subscription. The Internet banking company is also online First In June, after the Hinge Health in May. Coreweave, which was announced in March, jumped by 46 % in June, and has been sold since its shows.

Buy now, pay a company later clearAnd based in the UK, she applied to obtain the US public subscription in March, as did the studub ticket market.

Figma was founded in 2012 by CEO Dylan Field, 33, Evan Wallace based in San Francisco. The company had 1646 employees as of March 31.

Before creating Figma, Field spent two and a half years at Brown University where he met Wallace. Then he took Thiel Fellowship to follow entrepreneurship projects, “according to the presentation. The two -year -old partner in the founders program, which was established by Peter Thil in 2011, gives youth a $ 200,000 grant along with support from the founders and investors, according to Online description.

Field is the largest individual owner, with 56.6 million category shares and 51.1 % of the voting power before the public subscription.

Field said in a letter to investors that it was time for Figma to outperform “the direction of many amazing companies that remain indefinitely.”

Many companies fit this bill, including Databrics, Spacex and Stripe.

“Some clear benefits such as good companies clean, brand awareness, liquidity, stronger currency and capital markets apply.” “Most importantly, I love the idea of ​​our society’s participation in Figma’s ownership – and the best way to accomplish this is through public markets.”

Field added that as a public company, investors must “expect us to take great fluctuations,” including through acquisitions. In April, Figma bought assets and a technology company that unveiled its name for $ 14 million, according to a deposit.

The public subscription will also determine another victory that affects the need for the Valley Valley Silicon companies, which need revenue after the multi -year stagnation. Index Ventures is the largest external shareholder, with a 17 % stake before the offer, according to the deposit submission. Greylock owns 16 %, Kleiner Perkins Controls 14 %, and Sequoia has a 8.7 % stake.

Figma said he is facing “intense competition” and that the loss of the market share “will negatively affect our business”, but he did not mention any specific competitors.

Morgan Stanley and Goldman Sachs Leading the deal along with Allen and Partners and Jpmorgan Chase.

This is urgent news. Please check again for updates.

– Ary Levy of CNBC contributed to this report.

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