Figma, the popular design platform known for making team collaboration smooth and straightforward, is officially going public. The company has filed for an initial public offering (IPO) and will trade under the ticker symbol “FIG”. As part of its plans for the future, Figma says it’s ready to “double down” on AI, even if it affects short-term efficiency.
Adobe deal fell through, leading to IPO
You might remember that Adobe almost repurchased Figma in 2022 for a massive US$20 billion. But by 2023, that deal collapsed. Why? Regulators in the UK and the European Union raised strong concerns about the merger, leading both companies to call it off.
Afterwards, Figma’s CEO Dylan Field hinted that going public could be next. In an interview, he explained: “There are two paths that venture-funded startups go down. You either get acquired or you go public. And we explored thoroughly the acquisition route.”
By April this year, Figma quietly filed confidentially for an IPO. Now, the details are out — and they show how much the company has grown.
Revenue jumps as tools and AI expand
Figma’s revenue has climbed significantly. This year, the platform pulled in US$228.2 million, up from US$156.2 million during the same period last year. That signifies that more people and businesses are considering Figma for their design needs.
Figma isn’t just sticking to its original tools either. Over the past year, the company added new features aimed at helping you do more. These include tools for website creation, AI-assisted code generation, digital illustration, and even branded marketing content.
Most notably, Figma has opened the door for AI models to access its design systems. This move aims to help developers write better and faster code, all while staying inside the Figma ecosystem.
AI at the heart of Figma’s future
In the IPO filing, CEO Dylan Field made it clear: AI is the future of design, and Figma wants to lead that change.
“We’re already investing heavily in AI and plan to double down even more in this area,” Field wrote. “AI spend will potentially drag on our efficiency for several years, but AI is also core to how design workflows will evolve going forward.”
That means even though AI may cost the company more in the short run, Figma believes it’s a necessary step to stay ahead in the fast-changing design world.
With its IPO on the way and a clear plan to focus on AI, Figma is shaping up to be one of the most exciting tech offerings this year. Whether you’re a designer, developer, or someone who loves seeing innovation happen, it’s worth watching what Figma does next.
