Design software firm Figma has moved its price range up for its planned IPO in a bid to capture a higher valuation that is approximately $18.8 billion, as per a Reuters report.
The update comes nearly a month after its S1 filing with the Securities and Exchange Commission on July 1. The company was initially targeting a price range of $25-$28 per share, but has now shifted that to $30-$32 per share.
Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan are the lead underwriters for the IPO.
Figma’s Q1 2025 figures, botched acquisition
Unaudited figures showed revenues of $228.2 million and a net income of $44.9 million for Q1 2025. The balance sheet also revealed Figma held investments in Bitcoin ETFs of $69.5 million and 30 million USDC, which were earmarked for investment into Bitcoin, as reported earlier by Coin Headlines.
In 2023, Adobe’s planned acquisition of Figma in a $20 billion deal fell through due to antitrust concerns raised by regulators in the EU and the U.K.
This move for a higher valuation occurs after a period of stifled or postponed IPOs due to Trump tariffs in April, which caused adverse movements in stock markets, pushing major companies to shift their debut on markets to a later date.