When Adobe’s proposed $20 billion acquisition of Figma was blocked by regulators in 2023, the deal dissolved—Adobe ultimately paid a $1 billion termination fee. That setback might have been seen as the end for many startups. Instead, Figma used it as a springboard, says New York Times.
Over the following 16 months, the collaboration-design platform refocused on growth and innovation. In April 2024, it raised new capital in a secondary round, valuing the company at approximately $12.5 billion. Then, in July 2025, Figma filed for an IPO, going public under ticker FIG on the NYSE.
On July 31, 2025, Figma priced its shares at $33 each, raising about $1.2 billion. By market close, the stock had more than tripled, hitting approximately $115.50 and valuing the company at over $67 billion, well above the original acquisition offer.
Key Highlights Include:
- Financial strength: Revenue surged nearly 46% year-over-year to $228.2 million in Q1 2025, with net income around $44.9 million, up significantly from prior periods.
- Stakeholder windfall: Early backers like Index Ventures, Greylock, Kleiner Perkins, Sequoia, and co-founders enjoyed multibillion-dollar gains from the IPO.
- Design at the heart: Figma has redefined collaborative design tools and is doubling down on AI-powered workflows to stay competitive and future-ready.
Figma’s journey from a scuttled acquisition to a blockbuster IPO underscores a powerful narrative: regulatory roadblocks don’t have to derail ambition. By betting on innovation and momentum, the company not only survived but soared. For anyone charting the future of creative tech, Figma’s turnaround story is a case study in resilience, tactical pivots, and the long-term value of brand-led differentiation.