Figma co-founder and CEO Dylan Field speaks at the startup Config conference in San Francisco on May 10, 2022.
Figma
Figma, a cloud-based design tools company, said Thursday it will allow investors including current and former employees to sell their shares through a tender offer that values the company at $12.5 billion.
That’s a 25% increase from the company’s valuation when it raised money in 2021, but below the $20 billion takeover bid adobe Made in 2022. adobe Figma canceled the planned acquisition in December after coming under regulatory scrutiny.
The San Francisco-based startup expects the tender to be worth between $600 million and $900 million and is backed by more than 25 existing and new investors. A16z, Sequoia Capital and Kleiner Perkins Caufield & Byers are participating in the offer.
Figma is used internally by tens of thousands of employees Microsoftspending millions of dollars each year on its deployment. Google, Oracle and sales force Also uses the company’s software.
In June 2021, at the height of its huge funding rounds, Figma was valued at $10 billion. Financing round This includes participation from Morgan Stanley’s Counterpoint Global. That was before the market plunge in 2022 caused many cloud stocks to lose more than half their value and essentially halt IPOs.
Adobe initially said the acquisition of Figma would be a natural addition to the company’s product portfolio, writing in the initial announcement that “the combination of Adobe and Figma will usher in a new era of collaborative creativity.” In December, a regulatory filing Adobe is said to be paying a $1 billion breakup fee to Figma.
—CNBC’s Jordan Novet contributed to this report.
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