Figma increases its IPO price target to $30-$32 per share, aiming for an $18.8 billion valuation. The cloud-based design tool’s amended SEC registration statement discloses the adjustment. Figma, set to trade under “FIG” on the NYSE, joins a surge of tech IPOs this year, including Firefly Aerospace.

Previously, Adobe planned to acquire Figma for $20 billion in 2022 but the deal fell through due to antitrust concerns. The merger agreement was officially terminated in 2023 with Adobe paying Figma a $1 billion termination fee. Figma reported $749 million in revenue for 2024 with 13 million monthly users.

In its SEC filing, Figma disclosed $228.2 million in revenue for the first quarter of 2025, a 48% increase from the previous year. The company has seen significant growth and engagement, making it a major player in the design software market. Subscribe to Fast Company for updates on this IPO and more tech news.

Read more at Yahoo Finance: Figma’s IPO date is close. The stock could trade even higher after the design startup’s latest move