Figma, a U.S. design collaboration software company, has raised market expectations by adjusting its initial public offering (IPO) price nearly 20% higher.
Figma announced on the 28th (local time) that it will set the IPO price at $3,020 per share, a significant increase from the previous $2,528. Based on the upper limit, the company's valuation is approximately $18.8 billion (about 26.1 trillion Korean won). While slightly below the $20 billion valuation when Adobe attempted to acquire Figma in 2022, analysts note it is receiving higher-than-expected evaluation in the IPO market.
Figma will finalize its IPO price on the 30th and begin trading on the New York Stock Exchange (NYSE) under the ticker 'FIG' from the 31st. Morgan Stanley, Goldman Sachs, and JP Morgan are managing the listing.
Reuters reported that the IPO price increase reflects the market's renewed preference for innovative technology companies, along with the resolution of trade policy uncertainties from the Trump administration.
Founded in 2012 by CEO Dylan Field, Figma has been experiencing explosive growth with its cloud-based real-time design collaboration tool. Particularly, its first-quarter revenue increased by 46% year-on-year to $228.2 million, and net profit quadrupled to $44.9 million, demonstrating strong performance. In May, it also launched a Korean version, signaling its full-scale entry into the Asian market.
IPO research firm IPOX's Vice President Cat Liu evaluated, "Figma is a company with reliable AI-based services that aligns with the market's core themes." Global investment bank DA Davidson also analyzed that "Figma has sufficient competitiveness to become an industry leader based on its strong fundamentals and product leadership."
Meanwhile, the U.S. IPO market is gradually recovering. CoreWeave, a data center company listed in March, has surpassed its IPO price from $30 to over $100, and Circle, a stablecoin issuer listed in June, has seen its stock price approach $180 from an initial $31. If Figma's listing is successful, it is expected to boost investor confidence in technology-focused IPOs.
