Figma prices IPO at $33, above expected range
Dylan Field, Figma’s founding partner and CEO, is located on May 9, 2024 at the Bloomberg Technology Summit in San Francisco.
David Paul Morris | Bloomberg | Getty Images
Figma, the developer of the design software, which must be purchased by Adobe, priced its public offering over Wednesday above the expected range of $ 33 per share.
The company’s shares will be released on Thursday at the New York Stock Exchange under the “fig” symbol. The proposal has collected $ 1.2 billion and most of the revenues are going to existing shareholders.
Figma aims to benefit from a public market that is slowly reopened for technology public offering. Stablecoin exporter Apartment and artificial intelligence infrastructure provider Sunflower seed While it has risen since its release earlier this year, other companies including online banking company Belland health technology companies Hinge health And Health health It also released.
Bid values Figma 19.3 billion dollars. Company, Adobe For $ 20 billion, but this agreement was disintegrated in 2023 after the objections of the regulators. Adobe paid a $ 1 billion termination fee to Figma.
On Monday, Figma said the expected price range was $ 30 to $ 32 per share.
Figma was founded in 2012 by CEO Dylan Field and Evan Wallace. The company has offices in San Francisco, France, Germany, Japan, Singapore and the UK.
Figma said Updated prospectus For the quarter that ended in June, this income rose from $ 177.2 million to $ 247 million a year ago to $ 250 million and represented a 40% growth in the middle of the range. According to profits, Figma said that the expected range for the quarter went to an activity profit of $ 2.5 million from the loss of activity up to $ 500,000. This is often compared to a damage of $ 894.3 million compared to the previous year due to costs related to stock -based compensation.
The income for the March quarter increased by 46% to $ 228.2 million, and the net income rose to $ 44.9 million.
Field is the largest investor of the company with 56.6 million shares from the proposal and is a 26.7 million more voting control. Index Ventures is 17 % of the leading corporate stakeholder or unpaid stocks before the public offering with 65.9 million shares. Greylock is second at 16%, and at 14%Cleiner Perkins and Sequoia Capital at 8.7%.
All of the best investors sell some of their public offering.
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