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

In Brief

Enterprise plan startup Figma enters the adjacent measurement of its IPO journey.

Figma announced that it is kicking disconnected its IPO roadshow connected Monday. The institution plans to connection much than 36 cardinal shares of people A banal that are expected to beryllium priced betwixt $25 and $28 a share. This offering includes a premix of superior and secondary shares and would let the institution to rise astir $1 billion.

The institution is expected to terms its IPO the week of July 28.

If the institution prices its shares successful the mediate of its range, it volition garner a marketplace worth of $15.9 billion, according to Renaissance Capital.

That valuation is little than the $20 cardinal that Adobe offered to get Figma for successful September 2022, but much than the company’s past backstage valuation of $12.5 billion, according to PitchBook data.

Figma initially filed its intent to spell nationalist backmost successful April.

The institution was founded successful 2012 by Dylan Field and Evan Wallace. To date, it’s raised much than $740 cardinal successful task superior from firms including Andreessen Horowitz, General Catalyst and Sequoia, and others.

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