Figma raises IPO range to $30-$32 per share, near a $19 billion valuation

Figma, the renowned design software developer, has announced an increase in its anticipated price range for its upcoming initial public offering (IPO). The company now projects that shares will be priced between $30 and $32, a notable rise from the earlier estimate of $25 to $28 disclosed on July 21. This adjustment, revealed in a recent regulatory filing, indicates that Figma could achieve a valuation of approximately $17.6 billion to $18.8 billion on a fully diluted basis. However, this valuation remains under the $20 billion offer made by Adobe during its attempted acquisition of Figma in 2022, which ultimately fell through due to regulatory concerns regarding competition. As one of the most valuable privately-owned tech firms, Figma is positioned alongside other notable financial technology companies like Chime and Circle, which both went public in June. Meanwhile, CoreWeave made its market debut in March. It’s worth noting that shares of Circle and CoreWeave have more than doubled since their initial offerings. Additionally, Figma has filed to go public under the ticker symbol 'FIG.'