Figma IPO and Adobe’s Failed Acquisition (Patreon)

Figma is a collaborative cloud-based design platform, is set to go public in the coming dayswith a target valuation of $13–16.4 billion and plans to raise up to $1 billion by selling ~37 million shares at $25–$28 each. The IPO follows Figma’s rapid growth fueled by features like AI-driven design tools and FigJam AI for brainstorming.

Price range: $25–$28

Expected date: 7/31/2025

Adobe attempted to acquire Figma for $20 billion in 2022 to boost its competitive edge in UI/UX design. Figma was eating its lunch. However, antitrust regulators in the US, EU, and UK blocked the deal over competition concerns. Adobe dropped the acquisition in December 2023, paying Figma a $1 billion termination fee, which Figma reinvested in AI and R&D. I personally think ADOBE overbid and wanted to pull out... what my gut tells me and I know folks at Adobe.

Is the IPO Worth It?
Yes—Figma dominates the collaborative design market with 100M+ users and strong enterprise adoption. Its AI tools and browser-first approach set it apart from legacy rivals like Adobe and Canva. At a valuation below Adobe’s abandoned offer, and with over $600M in annual revenue, Figma’s IPO offers attractive upside in a recovering tech market. I dont normally buy IPOs but will watch this one.... NFA.... and after Circle IPO... looks like IPO market is RED HOT. Esp for AI and Crypto.