The American design platform company Figma has raised the bidding range for its initial public offering (IPO) to $30–$32 per share, placing its corporate valuation at approximately $18.8 billion (26 trillion 182.7 billion won). The final bidding price will be announced on the 30th (local time), and trading is expected to begin the next day on the New York Stock Exchange under the ticker 'FIG'.
According to industry sources on the 29th, Figma's newly proposed bidding prices are up to 20% higher than the initial range of $25–$28, indicating stronger-than-expected investor demand. However, it still falls short of the $20 billion level suggested during Adobe's acquisition efforts in 2022, which was thwarted by regulatory barriers in Europe and the United Kingdom.
Market analysts view that this increase in bidding price aligns with the recent atmosphere in the U.S. IPO market. Reuters analyzed that investors are regaining their preference for technology corporations as they turn away from uncertainties around trade policy.
Founded in 2012 by CEO Dylan Field, Figma offers cloud-based design collaboration tools and has grown rapidly. In May, it also began targeting the domestic market with the launch of a Korean version.
Cat Liu, vice president of IPOX, a market research firm focused on IPOs, noted, "Figma is regarded as a corporation utilizing reliable AI technology and is attracting market attention." In fact, quarterly revenue for the first quarter of this year reached $22.82 million, a 46% increase from the previous year, and net income surged more than fourfold to $44.9 million.
Global investment bank DA Davidson sees a strong likelihood that Figma will secure a leading position in the IPO market based on its product competitiveness and market dominance.
This IPO is being jointly managed by Morgan Stanley, Goldman Sachs, and JP Morgan. Meanwhile, the recent New York stock market has shown a recovery in technology-focused IPOs. Previously listed data center company CoreWeave and stablecoin firm Circle are also experiencing significant increases compared to their initial bidding prices.