Figma, the San Francisco-based collaborative design software company, has officially filed for an initial public offering (IPO) in the United States, planning to list on the New York Stock Exchange under the ticker symbol "FIG." The IPO filing reveals strong financial performance, with 2024 revenue reported at $749 million and a net loss per share of $3.74. In the first quarter of 2025, Figma posted revenue of $228.2 million, marking a 46% year-over-year increase, and net income rose to $44.9 million. The company’s annual recurring revenue (ARR) reached approximately $912 million with a gross margin near 90%, and it serves 13 million monthly active users, including 450,000 paying customers. Figma's net dollar retention rate stands at 132%, with 78% of Fortune 2000 companies using its platform. The IPO aims to raise up to $1.2 billion by offering nearly 37 million shares, with the price range recently increased from $25-$28 to $30-$32 per share. This pricing targets a market valuation of approximately $18.8 billion, approaching the $20 billion valuation Adobe had agreed to pay before the acquisition deal was abandoned due to antitrust concerns. The IPO is expected to occur in late July or early August 2025 and is anticipated to provide substantial returns to early investors and insiders, including prominent Silicon Valley figures. Figma has also named ServiceNow CEO Bill McDermott to its board as it prepares for public trading amid a resurgence in tech IPO activity.