Figma looks to raise nearly $1 billion as it kicks off its IPO roadshow

Figma, an innovative player in the enterprise design sector, has marked a significant milestone in its journey towards going public. The company announced on Monday that it has officially commenced its IPO roadshow, a crucial step in the process of offering shares to investors. The startup plans to sell over 36 million shares of Class A stock, with an anticipated price range set between $25 and $28 per share. This offering consists of both primary and secondary shares, positioning Figma to potentially raise around $1 billion. The company expects to finalize its IPO pricing during the week of July 28. If Figma manages to price its shares at the midpoint of the proposed range, it would achieve a market valuation of approximately $15.9 billion. Notably, this figure is lower than the $20 billion acquisition offer made by Adobe in September 2022. However, it surpasses Figma's last private valuation of $12.5 billion, as reported by PitchBook. Figma's journey to the public market began when it filed its intent to go public back in April. Founded in 2012 by Dylan Field and Evan Wallace, the company has successfully raised over $740 million in venture capital from notable investors such as Andreessen Horowitz, General Catalyst, and Sequoia, among others.