Figma said on Thursday that investors, including current and former employees, will be allowed to sell their shares in an offer, and the company is valued at $125 billion.
The Zhitong Finance App learned that cloud-based design tools company Figma said on Thursday that it would allow investors, including current and former employees, to sell their shares in the tender offer, and the company is valued at $125 billion.
This is 25% higher than the company's valuation at the time of financing in 2021, but lower than the $20 billion takeover offer proposed by Adobe (ADBE.US) in 2022. Following a regulatory review, Adobe and Figma cancelled the acquisition plan in December last year.
Figma expects the tender to be between $600 million and $900 million, with more than 25 current and new investors. A16z, Sequoia Capital, and Kaipeng Huaying participated in the bid.
Figma is used by tens of thousands of Microsoft employees, and Microsoft spends millions of dollars every year to deploy Figma. Google, Oracle, and Salesforce also use the company's software.
In June 2021, during the heyday of large-scale financing, Figma's valuation reached $10 billion in a round of financing, and Counterpoint Global, a subsidiary of Morgan Stanley, also participated in the financing. That was before the market plummeted in 2022, after which many cloud computing stocks fell by more than half and largely suspended pre-IPO financing.
Adobe initially stated that the acquisition of Figma would be a natural addition to the company's product portfolio, and wrote in an initial statement: “The combination of Adobe and Figma will usher in a new era of collaborative creativity.” In December of last year, a regulatory document stated that Adobe would pay Figma a $1 billion break-up fee.