Counsel in the Ring
-
Fenwick & West LLP is advising Figma, with a legal team led by Michael Esquivel, Ran Ben-Tzur, Jennifer Hitchcock, Aman Singh, and Chance Goldberg.
-
Latham & Watkins LLP, with attorneys Richard Kline and Richard Kim, is representing the underwriters.
From Browser-Based Tools to Boardroom Dreams
Figma’s platform — known for enabling collaborative, browser-native design — plays a behind-the-scenes role in powering apps like Netflix and Google Maps, serving over 13 million active users as of March 31, according to the SEC filing.
Figma said the IPO proceeds will go toward repaying outstanding debt and making capital-preservation investments, including short-term investment-grade securities.
The company emphasized its edge lies in supporting the entire software lifecycle, allowing rapid rollout of new products on its browser-first architecture — a nod to its adaptability in an ever-evolving tech landscape.
From Merger Mayhem to Market Moment
Figma’s IPO launch follows a dramatic saga in 2023, when it and Adobe mutually agreed to terminate their $20 billion merger following stiff resistance from global regulators who viewed Figma as a direct competitor to Adobe’s design suite.
While the deal’s demise could have been a death knell for a lesser firm, Figma instead is pressing forward with one of the most anticipated IPOs of 2025 — proving it can command the public markets on its own.
