Design software company Figma is aiming for a full valuation of up to $16.5 billion for its plan to go public in the United States. The company is looking to sell nearly 37 million shares priced between $25 and $28, according to a recent report from Reuters.
In the SEC filing, Figma revealed that it holds about $70 million in a Bitcoin exchange-traded fund while it is also authorized to issue a new type of share called “blockchain common stock.”
The company’s filing shows it made $228 million in revenue in the first quarter of 2025. Net income for the same period was $45 million. Last year, however, it posted a loss of $732 million due to covering taxes on employee stock sales in a one-time offer.
Figma’s IPO follows the collapse of a proposed $20 billion buyout by Adobe, which was blocked by regulators in the U.S. and Europe. The company now plans to list on the New York Stock Exchange under the symbol FIG. If shares are priced at the top of the range, Figma could raise just over $1 billion from the offering.
Figma is backed by well-known investors such as Sequoia Capital, Andreessen Horowitz, and Index Ventures. Its Co-founder and CEO, Dylan Field, will keep control of the company through special voting shares.
Additionally, two new board members have been named this week: Mike Krieger, Co-founder of Instagram and a top executive at AI company Anthropic, and Luis von Ahn, Co-founder of Duolingo.
Figma’s plans to hold Bitcoin and offer blockchain-related stock show how tech firms are starting to mix traditional finance with digital assets. It is one of the first big start-ups to take this approach in an IPO.