Dylan Area, co-founder and CEO of Figma, speaks on the startup’s Config convention in San Francisco on Could 10, 2022.
Figma
Figma, a cloud-based design device firm, stated Thursday it can enable traders, together with present and former workers, to promote their shares in a young provide that values the corporate at $12.5 billion.
That is up 25% from the valuation at which the corporate fundraised in 2021, however under the $20 billion acquisition provide Adobe made in 2022. Adobe and Figma referred to as off the deliberate acquisition in December following regulatory scrutiny.
The San Francisco-based startup expects the scale of the tender to be between $600 million and $900 million, with assist from greater than 25 present and new traders. A16z, Sequoia and Kleiner Perkins are collaborating within the provide.
Figma is utilized by tens of hundreds of workers inside Microsoft, which spends tens of millions per 12 months on its deployment. Google, Oracle and Salesforce additionally use the corporate’s software program.
In June 2021, in the course of the heyday of mega financings, Figma was valued at $10 billion in a funding spherical that included participation from Morgan Stanley’s Counterpoint World. That was earlier than the 2022 market plunge despatched many cloud shares down by greater than half and largely halted pre-IPO rounds.
Adobe initially stated buying Figma could be a pure complement to the corporate’s portfolio, writing within the authentic announcement that “the mixture of Adobe and Figma will usher in a brand new period of collaborative creativity.” In December, a regulatory submitting stated Adobe would pay Figma a $1 billion breakup payment.
— CNBC’s Jordan Novet contributed to this report.
